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Barack Obama is the president-elect of the United States. Yours truly and some friends watched the returns at the New World Theater in Midtown Manhattan — the name fit the mood.

Tessa Birch, English lass and Obama supporter

Tessa Birch, English lass and Obama supporter

The place was packed and richly diverse. Americans of all races were there, as were foreigners, many of whom told me my vote had extra importance because it was also their vote.

Bakar Wilson, Will Kenton, and John Yi

Bakar Wilson, Will Kenton, and John Yi

When the first good news came it was from Pennsylvania.

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To say the mood was ecstatic is almost an understatement. We all knew we were on the right side of an historical moment: one that will define the truly New American Century. When Barack Obama was officially declared the winner all of New York City erupted.

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When the man spoke he left not a dry eye in the house.

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Even now, sitting at my desk deep in the heart of Brooklyn I can hear cars driving by pumping triumphant hip-hop. We finally have a president who represents an American hope for the 21st century. Let us have a day of rejoicing before the weight of the world falls back on our shoulders.

This is what Reagan really felt about you.

Conservative, free market dogma states that taxes are always bad and always restrict growth. On the other hand, the more money you have in your pocket, the faster the economy will grow as you spend those dollars on goods and services. Lower taxes always and everywhere means greater growth. Arthur Laffer put the idea into econo-speak in the 70s. If you feel like reading the Wikipedia entry (written by a freemarketeer) you can see how scientific sounding defenders of this ideology are. They have spent the better part of 30 years developing ironclad, mathematical proof that taxes are inherently stifling to growth. Alan Greenspan gave the lie to this pseudo-scientific nonsense last Thursday when he said ““The whole intellectual edifice [supporting supply-side economics] collapsed in the summer of last year.

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