President’s Can’t Cure Recessions

From Megan McArdle, here’s one of the best things I’ve read in a long time:

Whichever way it works out, one side or another will overattribute the 2012 economy to Obama and the Democrats.  The fact is, the president can’t do much more than tinker around the edges of a $14 trillion economy–for which we can humbly thank God every day.  If presidents really did have the kind of power over the economy that their friends or enemies try to claim, the world would be a much more terrifying place.

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