We could have done a lot of good things with the $830 billion that was flushed down the toilet through the 2009 stimulus. That money could have been used to permanently transform our entitlement programs to free-market personal ownership accounts. It could have been used for massive pro-growth tax cuts. Instead, it was used to grow perennial dependency and for special interest handouts. But all of the supercilious smart economists say that it helps stimulate the economy, right? After all, it is called stimulus.
Well, earlier today, CBO Director Doug Elmendorf admitted to Senator Sessions that in the long run the stimulus will shrink the economy. He testified at a Senate Budget Committee hearing that the stimulus will indeed “be a drag on GDP” over the next ten years. Any diligent student of history already knew that, but now we have the “gold standard” of budget and economic scoring to affirm that self-evident truth. Nevertheless, fear not, the stimulus will have a stimulating effect in the short-term. That’s why we are enjoying a robust annual average GDP growth of…..1.4%.
Share on Facebook 1 1 SHARES As the rest of Rubio’s interview with Jake Tapper hits the airwaves today, Rubio fans are met with the news that Rubio apparently apologized backstage to Trump before the last debate about his “small hands” crack. More broadly, Rubio supporters have been probably the most visibly agitated people on the conservative side that Rubio has endorsed Trump. We’ll see | Read More »
Share on Facebook 1 1 SHARES Like a lot of disaffected Republicans, I spent some time watching the Libertarian Party’s Presidential debate last night. I say “some” time, but that might have been a little bit of an exaggeration – really, I managed to survive about 10 minutes of a deeply disconcerting experience that nonetheless completely met my expectations. Of the five candidates on stage, | Read More »
Share on Facebook 1 1 SHARES Are the pressures of trying to run an actual Presidential campaign starting to get to Trump’s people? Seems some of them are taking a page out of their bosses book. Trump, who regularly engages in conspiracy theories, is quite the role model for such absurdities. From The NY Times: A constant stream of changes and scuffles are unsettling Donald | Read More »