Third anniversary reminder: Stimulus was and is an epic failure
If there are any Nevada politicians entertaining the idea that government picking the winners and losers in the economy is a good plan, they should consider the results of the $787 billion stimulus, on its third anniversary.
Despite spending close to a trillion dollars to “stimulate” the economy, the unemployment rate rose dramatically over the Obama administration’s predictions.
This isn’t surprising. Government’s attempts to boost the economy either fail, like the stimulus did, or create a bubble – hello, housing – that eventually bursts and does even more economic damage.
And what’s worse is that after spending almost a trillion dollars to stimulate the economy, Heritage’s James Sherk finds that this has been the slowest recovery in the post-war area.
What’s the alternative? Let’s give the free market – an unhindered by government interventions – another try.