Sometimes the truth hurts.

The economic understandings or misunderstandings of our members of government get reflected in our laws and regulations.   And at the end of the day, it is the economic understandings or misunderstandings of our electorate that determine which individuals serve there.    In this past election, in siren-song fashion, Barack Obama convinced a majority of voters to act on misunderstandings of how the economy works and became President.

The repercussions of such economic illiteracy are now being played out.    First there was last February’s massive “stimulus” bill.    Most recently there has been the take-no-prisoners battle to re-make the healthcare portion of our economy.    “Cap and Trade” looms in the...