Ain't No "New Models" of Economic Growth

First, President Obama proposed $12 BILLION more in spending for community colleges today. I guess I should be encouraged because in this regime $12B is chump change.

Second, he said the following:

"The president said the creation of jobs that pay good wages is the "single biggest challenge" in the recovery for the U.S. and governments worldwide. He defended his multi-pronged agenda of trying to revamp health care, energy, science innovation and infrastructure as the key to real economic growth.
"Those foundations are so critical because we've got to find new models of economic growth," Obama said."

We have hundreds of years of knowledge about what spurs economic growth. The basic thrust of what it takes is to encourage risk taking and entreneurship, defend property rights and the rule of law, provide incentives via tax policies, do not enact trade barriers, do not protect pet industries, and allow for the inherent "creative destruction" of capitalism to run its course. If by "new models" Obama means hire union labor to do public works (infrastructure), socialize medicine (healthcare), or adopt energy policies that are high cost (energy), than he will be very frustrated in his endeavors to spur real economic growth. He was somewhat on target with his recognition of the importance of science innovation if he's referring to technology adoption as a means to improve economic standards of living.

There is nothing new about what Obama is proposing unless your young and learning about this stuff for the first time. Keep learning and reading. You'll actually find that Obama's proposals mirror recycled policies that didn't work in the 1930's, 1970's and at periods in the 1800's.