Obamanomics

Today's Thesis You Can Crib Why Americans Hate Economics In university classrooms—and especially the Obama White House—fancy theories of macroeconomics defy basic common sense.

... unemployment insurance is one of the most direct ways to infuse money into the economy because people who are unemployed and  obviously  aren't earning a paycheck are going to spend  the money that they get .   White House Press Secretary Jay Carney how    increasing unemployment insurance "creates jobs." “ Christina Romer, the University of California at Berkeley economics professor and President Obama's first chief economist, once relayed the old joke that "there are two kinds of students: those who hate economics and those who really hate economics." She doesn't believe that, but it's true. I'm surprised how many students tell me economics is their least favorite subject. Why? Because too often economic theories defy common sense. Alas, the policies of this administration haven't boosted the profession's reputation. Consider what happened last week when Laura Meckler of this newspaper dared to ask White House Press Secretary Jay Carney how increasing unemployment insurance "creates jobs."  [Full] ”