Supply-Side Economics – John Malcolm

By Rush Limbaugh | May 31, 2012 | RushLimbaugh.com

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RUSH: Matthews, North Carolina. Hi, Neil. Great to have you with us. Hello.

CALLER: Hey, Rush, how you doing?

RUSH: Very good, sir. Thank you.

CALLER: Hey, listen, there’s an important lesson to be learned when you examine the stark contrast between Governor Scott Walker’s campaign and President Obama’s campaign.

RUSH: What would that be?

CALLER: Both men have records, but only Scott Walker is running on nothing but his record and winning big.

RUSH: And Obama can’t run on his record. Is that the lesson?

By Charlie Kirk | April 27, 2012 | Breitbart

All across the country, students are studying for Advanced Placement exams coming in the middle of May. Students in AP Economics are taught with Krugman’s Economics for AP by Margaret Ray and David A. Anderson, adapted from Paul Krugman and Robin Wells’ Economics (Second Edition). Our public education system is supposedly one without bias, a place where any student can come and learn without any form of partisanship. Instead, our classrooms are slowly becoming political lecture halls with teachers being pawns to further the doctrine of liberalism and “equality.”

Throughout the entire textbook, there are historical, factual, and statistical distortions. For example, Chapter 36 (“The modern macroeconomic consensus”) contains 16 sweeping generalizations such as: “Nearly all macroeconomists now agree… There is now a broad consensus… Today, most macroeconomists believe… Almost all macroeconomists now accept…” (pp. 355-58). None of these assertions are backed up with even a single citation. If a student were to submit an essay with such disregard for basic evidence, it would ensure a failing grade.

I find it troubling Krugman’s Economics for AP concludes that Reagan’s “supply-side economics is generally dismissed by economic researchers. The main reason for this dismissal is lack of evidence.” Referring to economic growth and output, our textbook goes on to state there was “no sign of an acceleration in growth after the Reagan tax cuts.”

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