Economic train wreck. Coming soon to a theater near you.

The Dems, ignoring 90 years of experience with ineffectual and destructive government interference in economic matters, charge ahead with more ineffectual and destructive government interference in economic matters:

An economic train wreck is coming. Its cause is simple and straightforward: the breathtakingly bad monetary and fiscal policy during the past six to nine months - in other words, too much money and too much federal spending.

The first thing policymakers need to do is to stop doing harm. The Fed needs to immediately raise the federal funds target interest rate and slow money growth to normal levels. Congress needs to return federal spending to a more normal 19 percent to 23 percent of gross domestic product. It should reduce the U.S. corporate tax rate, currently the second-highest rate among industrialized nations, and, if possible, reform the tax system to promote work, savings and investment. Finally, it needs to control rather than exacerbate federal entitlement spending.

Instead, the Obama administration seems bent on doubling down and making a bad situation even worse . . . .

"Why stagflation is coming. That certain aroma means it's baked in the cake." By David R. Burton and Cesar Conda, Washington Times, 6/28/09 (emphasis added).