We simply cannot ask the American taxpayer to subsidize failure. — Mitch McConnell Read more →
EppsNet Archive: Ford
Why Spending Stimulus Plans Fail
Congress doesn’t have its own stash [of money]. Every dollar it injects into the economy must first be taxed or borrowed out of the economy. No new spending power is created. It’s merely redistributed from one group of people to another. — Brian Reidl, The Wall Street Journal As you probably learned in school, we founded this country as a free-market economy and viewed government intervention in the market with the greatest skepticism. The above article is the clearest explanation I’ve seen for why bailouts and “stimulus plans” involving government spending never work. The latest failed companies hoping for a bailout are General Motors and Ford. I hope Henry Ford — a great American like myself, who is currently whirling like a lathe in his Detroit grave — will pardon me for saying so, but these companies are nothing but engines of mass financial destruction. According to the WSJ, GM… Read more →