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"The Economist' Endorses Obama: "Raising Taxes in a Recession is Hillarious"

"The Economist" editor make his election selection in a British pub

LONDON, 2008-10-29 — The Economist magazine in the UK has endorsed Barack Obama for US President.

"America should take a chance and make Barack Obama the next leader of the free world," said the magazine.

"True, we are meant to focus on economic issues, as our masthead implies, but that hasn't stopped us supporting all sorts of anti-economic and anti-business issues before. True, Obama wants to raise taxes during a recession, which defies all economic theories. But it would be fun to see what happens! We can measure how negative the impact will be. Will it be huge or humongous? How often do economists get to see such a crazy laboratory experiment on such a big scale?

"There are actually very few economists on our staff. We are mostly a bunch of beer swilling, left leaning, unemployable university graduates. We can't get jobs in the real economy, but we can string a few words together. At least give the UK education system credit for that!

"America is the only global super power, whereas Britain is no longer a world power. We suck. The sooner America elects Obama, the sooner America will lose its ability to project its power abroad, and the sooner we can drag it down to our level.

"We'll drink to that!"

Felix Frelinghuysen

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