Friday, September 11, 2009
Obama's Hoover Move
In 1930, Herbert Hoover signed into law the Smoot-Hawley Tariff Act, which essentially sealed the fate of the U.S. entering the Great Depression. Today we learn that Obama just signed into law a tariff against China. To placate the unions, apparently Obama is willing to throw this economy deeper into depression and start a trade war with China. Will someone please send Obama an economic historian?