Government spending? "No nation in history has ever taxed itself or spent itself into prosperity." ~ Burton Folsom Jr. in Creating a Recipe for Recovery Hmm. He may have a point, though some think FDR did it in the 1930s with his New Deal. I think, though, that in the past ten years that consensus has been breaking apart among historians, thanks largely to revisionist scholarship. Books on the New Deal Not all revisionist history is bad, esp. when many have routinely and reflexively engaged in hero worship toward FDR over the decades. After all, I was instructed by lefty professors that he "saved" capitalism. The truth is very different, it turns out. (In the 1930s there was John Flynn, but who's heard or read him?) What we're now facing, if Prof. Folsom is correct, is The End of Prosperity: How Higher Taxes Will Doom the Economy. The authors say (Stephen Moore is very active and used to be with the Cato Institute): politicians today care more about βfairnessβ and taxing the rich (who already pay most of the income tax anyway) than they do about economic growth. The results will be especially punitive to the people who are most presented as in need. The poor. What ever happened to JFK Democrats? "A rising tide lifts all boats"? We need that.