Obama's Voodoo Multiplier

In this article from The Wall Street Journal we learn that Obama's economic plans are based on pure wishful thinking and fantasy. How do we know this? We know it because they assume that massive government spending has no negative effect on the private sector. Indeed, they think that their actions will actually result in more economic activity in the private sector than would otherwise have been the case without the government spending. This is, of course, insane. Government spending can only be done by taking wealth from the private sector, which means less economic activity in the private economy. How can it be otherwise? If I take half of your income, does that make you more wealthy or poorer? Do you have more to work with, or less? Will you have more options open to you or fewer?

It's not really hard to figure out, unless you happen to have a Harvard education and work in Washington.