Sunday, February 1, 2009

These Projects Are Shovel-Ready, All Right (Bob Higgs)

Bob Higgs comments on the latest "stimulus," which is nothing more than an enormous robbery:

Robert HiggsI’ve been a little too busy to read the 647-page “stimulus” bill the House just approved and the Senate is set to consider. So, for the moment, I must rely on what others, such as the Wall Street Journal, are reporting about this $825 billion statute.

Given the gargantuan amount of money being appropriated in this bill, you might think that it certainly must portend a great deal of economic stimulus, especially if you, like most Americans, labor under vulgar Keynesian misconceptions about the effects of government spending—you know, more government spending is always good (it has a “multiplier” effect) and more government debt is no problem (we’ll be dead before our kids and grandkids get saddled with the lion’s share of the burden of paying off this additional debt, directly or indirectly, and nobody really gives a damn about future generations, right? What did they ever do for us?).

Well, those might have been your feelings if you hadn’t bothered to look inside this stimulus-sausage factory, to see what ingredients go into the product.

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