06/20/2009 05:12 am ET | Updated May 25, 2011

Obama Is Leading Us Down the Road to Economic Hell

A conservative economist named Woody Brock has written a long, persuasive analysis that the Obama administration is taking us down a dangerous path on the economy. Brock's primary thesis is this:

The fact that the U.S. is temporarily taking on truckloads of debt to fight this crisis is actually not as big a concern as many people think. The debt is fine if we put policies in place to reduce it going forward. Unfortunately, in Brock's opinion, we're not doing that.

What would the right policies be?

1. Policies that encourage growth, including less regulation, more immigration, and more infrastructure spending to drive future productivity gains;

2. Reduced government spending as the economy improves.

Brock observes that Obama's current agenda is almost the opposite -- slow growth, more regulation, permanent spending increases, and the wrong kind of spending (on entitlements and social programs, not infrastructure). He thinks this could eventually lead to disaster.

I voted for Obama, and I think he's mostly doing a great job. I also don't agree with everything Brock says (obviously, we need to tighten some regulation). I must admit, however, that I find the hear of his argument persuasive.

I've posted Brock's whole argument on The Business Insider.