Wednesday, September 07, 2011

Obama's New Old Jobs Program

It's busy work Mr. President. The stimulus (ARRA) didn't stimulate--that one mile of sidewalk in my neighborhood didn't produce anything the community couldn't afford. And FDR's WPA didn't create jobs it was a relief program for able bodied workers. And no business can take a "tax break" if they don't have a product or a market--and you've killed both.
On a visit to Asia, the late economist Milton Friedman observed workers digging a canal, using shovels. He asked a government bureaucrat why they weren't using modern excavation machinery. The answer: "You don't understand. This is a jobs program." Friedman replied, "Oh, I thought you were trying to build a canal. If it's jobs you want, then you should give the workers spoons, not shovels."
Gov't Is Job Killer, Not Creator - Investors.com

1 comment:

Anonymous said...

Murray sez:
The Milton Friedman story reminds me of the "Cash for Clunkers" program. If destroying perfectly good cars are good for the economy because people get paid to make new ones then why stop there. Destroy skyscrapers too!