( – promoted by EaBo Clipper)
Matt Kinnamen has a great column out today. Key paragraph:
The only resource the federal government actually has is the resources provided to it by free people engaged in free enterprise. Centralized “stimulus” planning is the opposite of this dynamism.
The classic liberal economist Henry Hazlitt wrote that “the art of economics consists in looking not merely at the immediate but at the longer effects of any act of policy; it consists in tracing the consequences of that policy not merely for one group but for all groups. Nine tenths of the economic fallacies that are working such dreadful harm in the world today are the result of ignoring this lesson.”
Obama is ignoring it.
We cannot spend and tax our way to prosperity. Moreover command economies, even of the mildest sort, spell disaster.