Obama's State Capitalism: A Failure of Modesty

By Michael Barone - August 12, 2010

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"The pace of economic recovery is likely to be more modest in the near term than had been anticipated." Those were the carefully chosen words of the Federal Reserve Board after its meeting Tuesday. Translation into English: We wuz wrong. So were a lot of people, including departing White House economics adviser Christina Romer, who wrote that the Obama Democrats' February 2009 stimulus package...

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