We have squandered three years and trillions of dollars of the nation’s wealth on such policies, and they have not worked because they cannot work.
Government cannot inject a single dollar into the economy until it has first taken that same dollar out of the economy.
True, we can see the job that is saved or created when the government puts that dollar back into the economy. What we can’t see as clearly are the jobs that are destroyed or prevented from forming because government has first taken that dollar out of the economy. We see those millions of lost jobs in a chronic unemployment rate and a stagnating economy.
Government can transfer jobs from the productive sector to the government sector by taking money from one and giving it to the other. That’s at the heart of the president’s plan to spend billions of dollars to hire more teachers and firefighters and police officers. But these temporary government jobs come at a steep price: every dollar spent sustaining one of these jobs is a dollar taken from the same capital pool that would otherwise have been available to productive businesses to invest in creating permanent jobs.
- Reduce the tax and regulatory burdens, and jobs flourish.
- Repeal Obamacare and open up American energy resources — there’s 1.5 million jobs right there — at no cost to taxpayers.
- When Ronald Reagan inherited an even worse economy from Jimmy Carter, he reduced the tax and regulatory burdens that were crushing the economy — just as Republicans propose to do today.
Read the article here.
H/T to bigfurhat