The term “voodoo economics” was lodged in the political lexicon 35 years ago by George H.W. Bush, referring to presidential rival Ronald Reagan.
The two later reconciled enough for Bush to became Reagan’s vice presidential running mate, but the term survived.
It’s time to dust it off again because the Capitol seems to be infested with voodoo economics these days – logic- and fact-deficient assertions about the seemingly magical economic effects of politicians’ pet causes.
Take, for instance, what Assembly Speaker Toni Atkins has been saying while pushing tax and fee increases to fix our dilapidated highway system.
She has resurrected an oft-cited assertion about public works projects, that “investing” $1 billion will create 18,000 construction-related jobs. Oft-cited does not make it real, however.
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