Sowell: The Economic 'Stimulus'

[Terri]

By Thomas Sowell
January 6, 2009

Two centuries ago, when there were plans to create a huge fund of money to pay off Britain's national debt, the great classical economist David Ricardo objected on grounds that -- no matter what the money was said to be for -- politicians could spend it for whatever they wanted.

Two centuries later, we have not yet caught up to that plain reality, even though the $700 billion that was supposed to be used to rescue financial institutions it has already begun to be spent on other things.

Regardless of what President Bush or Secretary of the Treasury Paulson may have had in mind when they promoted this huge bailout package, with all due respect to these gentlemen what they had in mind will not matter in the slightest after January 20th.

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[FlaJim]

Oh, to return to the 1920s when the business of government was government and the business of business was business.

Just think: a large number of the bozos in Congress have never held a real job and never had to deal with living within a budget, never had to market a product or service in the marketplace, and never really had to answer to anyone for the errors they make.

In business, one must consider the long or at least medium term consequences of actions and decisions made. In government, sadly, it's all about what the overnight polls will reflect.

[utexas]

Any kid can tell you nothing is more fun than spending somebody else’s money. And Congressmen are experts at that and get more fun out of it than anybody else because they are never, ever held accountable.