Wednesday, December 17, 2008
Here's a great video by Dan Mitchell of the Cato Institute which explains in simple and straightforward terms why the economic "stimulus" plans of the incoming Obama administration don't make sense and won't stimulate the economy. Keynesian pump-priming has never worked, but politicians keep trying to do the impossible because they can't resist spending other people's money. I imagine that Obama will try to justify his big-spending boondoggle by using a lot of the money to fund pet programs and green projects. You can already hear the lobbyists sharpening their knives as they plot how to get a piece of this enormous spending pie.
Posted by Scott Grannis at 9:30 AM