We have known for awhile that President Obama believes in Keynesian economic principles. Keynesian policies have done plenty of damage to our economy and way of life. This includes our growing issue of illegal immigration.

One would only need to consider the economic crisis in Japan in the 90's, known as "The Lost Decade" The policies that caused this economic crash are almost identical to those Keynesian policies that have caused our current economic recession/depression.

This is evidenced by the writings of Kenichi Ohno of the National Graduate Institute for Policy Summaries:

"The opponents of fiscal activism say that Japan already tried fiscal stimuli many times during the last decade, but the economy failed to recover strongly. They also argue that old-fashioned fiscal spending, such as building expensive but under-used highways, bridges, airports and Shinkansen lines will only benefit rural construction companies while increasing national debt (did Japan really need three giant bridges to span the Inland Sea?) Further fiscal stimuli, which add to the mountain of government debt, may actually weaken the economy through increased fiscal vulnerability and unsoundness." [1] The economy did not start to recover until government spending was decreased and there was an increase in private capital.

It should also be noted that during and after Japan's "Lost Decade", there was a large rise in legal and illegal immigration. This undoubtedly worsened the situation and prolonged the nation's recovery.

We do not want another Great Depression. While some believe that our current economic and housing climates are even worse[2], a general consensus would agree that we are at least in a "great recession".


Nobel Peace Prize recipient Friedman von Hayek further proves how our current policies are making our conditions even worse.


Hayek’s 1932 Letter on the Great Depression

TO THE EDITOR OF THE TIMES

Sir, the question whether to save or whether to spend which has been raised in your columns, is not unambiguous. It involves three separate issues:...
3. We are of the opinion that many of the troubles of the world at the present time are due to imprudent borrowing and spending on the part of the public authorities. We do not desire to see a renewal of such practices. At best they mortgage the Budgets of the future, and they tend to drive up the rate of interest — a process which is surely particularly undesirable at this juncture, when the revival of the supply of capital to private industry is an admitted urgent necessity. The depression has abundantly shown that the existence of public debt on a large scale imposes frictions and obstacles to readjustment very much greater than the frictions and obstacles imposed by the existence of private debt. Hence we cannot agree with the signatories of the letter that this is a time for new municipal swimming baths, etc., merely because people “feel they wantâ€