Tag: stimulus
Robert Higgs On Freedom Watch: The Stimulus Bill 1 Year On
Obama’s “Spending Freeze” is Complete Fraud: Locks in 20% Higher Spending

Charles Krauthammer reveals on the “O’Reilly Factor” on Fox News that President Barack Obama’s “spending freeze” is a complete fraud, in which Obama is not just excluding all major areas of federal government spending (i.e., discretionary, Social Security, military, stimulus, etc.), but is locking in the already gigantic increases in federal department spending levels...
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Saturday Night Live Lampoons Obama

Saturday Night Live lampoons Barack Obama and his reckless and gargantuan, federal government spending and debt mongering in their recent skit of a joint press conference with Obama and Chinese President Hu Jintao, “China Wants Its Money Back”:

Broken-Window Alert

How many jobs has the “stimulus” package created? Sensible economists of course know this question cannot possibly be answered. Government spending directs resources toward politically favored projects at the expense of others, but the net effect on resource allocation, including the net effect on “jobs”—a heterogeneous category that depends on hours worked, job characteristics,...
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Masters or Slaves?

Using data just released from the Bureau of Economic Analysis, Cato’s Chris Edwards has built this chart vividly illustrating the upshot of America’s love affair with big government under Bush and continuing under Obama—average federal compensation is now more than double the average in the private sector: Meanwhile, the trend of government jobs increasing...
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Most Investors, Economists, and Policy Makers Are Blind to the Mountain of Malinvestments

Reading about the first Quarterly Bloomberg Global Poll of investors, which found that almost 75 percent of those surveyed give Ben Bernanke favorable marks for his actions as chairman of the Fed during the current financial and economic crisis, my first reaction was to wonder, What are these people thinking? The news article also...
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Are Obama’s Poll Numbers Plummeting?

According to Gallup Poll Daily, after the presidential election from November 4-6, “only 27% of Americans approve of the job Bush is doing as president. This contrasts with the 70% of Americans holding a favorable view of Obama.” Now in the March 13th Wall Street Journal article, “Obama’s Poll Numbers Are Falling to Earth,”...
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“Thank You,” Mr. Redford, for Gov’t-Subsidized Art

“Thank goodness” Mr. Robert Redford called House Speaker Nancy Pelosi last week to secure a $50 million allocation for the arts amongst the $800-something-billion approved on Friday. And here I was worried that art and culture would all but disappear from the American landscape. I feel better knowing that the federal government is doing...
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Higgs on FOX: Stimulus to Cost Each Family $10,000

Check out Bob’s interview today on Fox Business. Not only will the stimulus package fail to help the economy, it will cost the average American family of four $10,000!

Craig Pirrong on Intertemporal Consumption

Craig Pirrong explains the Keynesian system, which he aptly describes as “bilgewater economics.” At root, stimulus advocates appear to be substituting their preferences for those of the great unwashed. People want to save too much, the bastards. If we give them money, they’ll STILL save it. So, we’ve got to consume for them. Traditional...
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