George Will On The Failure Of "Obamanomics"

George Will has a really good column on why Obama's economic policies have failed and the similarity between these policies and Herbert Hoover's similarly failed policies.

Just like I have done repeatedly in the past, he points out that contrary to popular myth, Hoover dramatically increased federal spending. He also points to the failure of "cash for clunkers" who despite a high price tag, did little to boost new car sales permanently (it did have a substantial effect during the months it was in place, but largely at the cost of lower sales later) while also reducing the standard of living for low income workers as a lower supply of used cars increased prices, thereby reducing real wages.