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Stimulus Not So Stimulating

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Daily Dose of Reason - Politics & Government
Written by Michael J. Hurd, Ph.D.   
Wednesday, 15 July 2009 00:00
So let me get this one straight. The federal government sets aside a trillion dollars of our money for programs to "stimulate" the economy. According to the President, it was supposed to have an effect on unemployment within weeks of its passage. Now, months after the bill was passed into law, only 5 percent of it has been spent. In spite of all the political double-talk, it will be months or years before it's all spent or distributed as local politicians see fit. The proposed solution? Spend another trillion dollars! Maybe even three or four trillion. Why not? But nobody is asking how (or when!) the next several trillion will be spent. Could it be that the purpose of this whole bill wasn't to "stimulate" the economy at all, but to give politicians more money to redistribute to their cronies, friends and pet projects? Could it be that they get away with it because nobody has the courage or intelligence to ask the simple question: How do you generate wealth in the economy (hence the word "stimulus") by simply spreading already existing wealth around? Our current President was elected on an open platform of "spreading the wealth," and this is precisely what he's doing. A majority of voters decided this made much more sense than reducing taxes and lifting regulations and burdens off the private sector. Well, we see how it's going so far.
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