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October 7, 2011
Stossel and de Rugy on the fallacy of rebuilding the economy with 'infrastructure'
Topics: Political News and commentariesVeronique de Rugy and John Stossel explain why Obama's plan of government 'investment' (Dem-speak for spending) on infrastructure isn't a good way to fix the American economy.
Veronique de Rugy writes over at The Corner:
I was on Stossel last night to talk about infrastructure spending and job creation. The show will be re-airing on Saturday and Sunday at 9 p.m. & midnight ET on the Fox Business Network. There is an interesting segment in the show where John Stossel interviews USAction strategy and policy director Alan Charney about why companies should not be allowed to discriminate against the unemployed when hiring. You will also see Stossel reenact the modern version of Frederic Bastiat's broken-widow fallacy.Memo to Barry and his fellow Dems: Government spending does not stimulate economic growth. All it does is move resources away from one sector of the economy to another. And government has a horrible track record at efficiently allocating resources. All that really happens is that, on net, jobs get destroyed in the transfer process.I have written about infrastructure spending and its ability (or not) to stimulate the economy here (with my colleague Matt Mitchell) and here.
By the way, it looks like the pro-stimulus advocates are not gaining much approval, as least with the readers of U.S. News and World Report.
Posted by Richard at October 7, 2011 5:55 PM
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