Early rumblings from Washington indicate that the President’s State of the Union address this week will focus on the economy, and announce a new plan to get things back on track. Unfortunately, when politicians try to “help,” they usually end up making things worse – which is almost certain to be the case.
What’s almost certain to be included is a “Stimulus II” program in the guise of a new jobs bill. As the Cato Institute’s Dan Mitchell points out in this new video by the Center for Freedom and Prosperity, “giving stimulus a new name is like putting perfume on a hog. You can mask the stench, but it’s still there.” Check it out here:
At the end of the day, the economy will recover – but by implementing another stimulus bill, the nation will be in an even deeper hole than before (and unnecessarily so!) Dan loves to make this point, but it bears repeating – do we really want to be like France, with long-run stagnation and lower living standards?