Obama's Planned Non-Stimulus "Stimulus"
Just when you think the government couldn't screw things up any worse (ok, we didn't really think that), the Democrat-led Congress says they are ready to send him a $500-700 billion "stimulus" bill on Inauguration Day.
As most modern-day economists know, a stimulus plan that merely takes money from the private sector and redistributes it according to government wishes is absolutely meaningless. Congress says it will include "tax cuts," but I think we all know that they really mean rebate checks for those they choose (read: welfare payments).
If $500 billion is such a great stimulus, why not make it a trillion? Or ten trillion? The truth is that government spending requires private money to fund it now or in the future, which does the opposite of what the government intends, which is to increase private spending. We should all understand this now after we have seen clearly the effects of the New Deal on the Depression. But then again, our elected officials have all failed their civics tests.
As most modern-day economists know, a stimulus plan that merely takes money from the private sector and redistributes it according to government wishes is absolutely meaningless. Congress says it will include "tax cuts," but I think we all know that they really mean rebate checks for those they choose (read: welfare payments).
If $500 billion is such a great stimulus, why not make it a trillion? Or ten trillion? The truth is that government spending requires private money to fund it now or in the future, which does the opposite of what the government intends, which is to increase private spending. We should all understand this now after we have seen clearly the effects of the New Deal on the Depression. But then again, our elected officials have all failed their civics tests.
posted by Richie Rich | 9:19 AM
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