In the run-up to this weekend's G-8 summit at Camp David, journalists have unfavorably compared European "austerity" with Barack Obama's economic policies.

When the G8 major economies convened at Camp David last weekend, the continuing crisis of the euro, common currency of 17 European Union (EU) members, dominated the economic discussions. The agonies of Greece, badly divided in recent parliamentary elections, and forced to vote again on 17 June, were at the forefront.

Fiscal stimulus does not create output and jobs from thin air, but simply "borrows" them from the future.

Most of the appropriated spending included in the stimulus package moving through Congress will occur too slowly to provide an effective stimulus to aggregate demand.

While devout Keynesians such as Paul Krugman have argued that the slow recovery is due to the insufficient sizeof Obama’s plan, a new study by the National Bureau of Economic Research provides the strongest evidence yetthat the Obama stimulus was doomed to failure.

We are learning a basic truth. Fiscal stimulus produces a temporary positive impact on growth and perhaps on employment after it is enacted. This is followed by a drag on growth when it is withdrawn.

For several years now, President Obama and his allies in the environmental movement have promised to usher in a green economy that will create millions of new green jobs that “can’t be outsourced.”

Where Obama went wrong on education – and what Romney needs to say