Tuesday, July 19, 2011

A ‘Debt Limit’ Compromise

Richard A. Epstein writes:


> In grappling with these various government programs, we should not first ask how they should be to be funded—we should ask instead: what is the proper size of these programs? On this issue, it is clear that neither the Democrats nor the Republicans have kept faith with the key principle of sound government, which is the presumption that dollars used for ordinary goods and services go a lot further when the money is left in private hands.
>> The appalling waste of both the Bush and especially the Obama stimulus programs was based on the fatal Keynesian presumption that it makes sense for the government to make expenditures that everyone would deem wasteful, even farcical, if undertaken by private parties. It makes no sense for any private firm to hire workers first to dig holes and then to refill them. It makes no more sense to tax private firms an amount that allows government employees to undertake those same useless acts.

Posted via email from The Blue Pelican

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