A cab ride in Washington, DC on a weekday afternoon in June gives you a feeling of the national mood. It’s oppressively hot and humid and the traffic is horrible. By the time you reach your destination, you feel strangled and oppressed and just want relief.
Amidst the current lethargic economic recovery, with unemployment still just under 10%, the one growth stock remains government. Washington, DC is a boom town today as the answer our current administration proposes for every single problem and challenge facing us is more government.
Government spending is now 25% of our GDP. This is five percentage points higher than the average of the last fifty years.
A new Wall Street Journal/NBC poll reflects the nation’s nasty mood. Sixty two percent now say the country is “on the wrong track,” compared to 43% saying this a year and a half ago.
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