"The government of the United States is a definite government, confined to specified objects. It is not like the state governments, whose powers are more general. Charity is no part of the legislative duty of the government."

-- James Madison (speech in the House of Representatives, 10 January 1794)

Saturday, May 9, 2009

Beware of Obamanomics by Thomas E. Woods, Jr.

But, fashionable superstitions notwithstanding, government spending – that is, draining resources from the productive sector and devoting them to arbitrary projects – cannot improve the economy. It can only make things worse. "spending" per se that they predicted a return to depression conditions when World War II spending came to an end.

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Presented for your consideration by POAST at 1:02 AM

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