A Mind-Boggling Jobs Bill

There is a powerful op-ed (A Jobs Bill That Boggles the Mind) in the Sept 21 Wall Street Journal by Harvey Golub of the American Enterprise Institute in which he skewers President Obama's jobs bill, perhaps better known as Stimulus 2. As a foretaste of what's in store, Golub's opening paragraph, in which he accuses the Obama administration of promoting antigrowth economic policies, contains the sentence: He [Obama] apparently has not learned from the failure of his first trillion dollar stimulus package that no amount of government spending will achieve self-sustaining economic growth..." There are a number of fiery sentences in the article - one of which I will supply momentarily - in which Golub lambasts Obama for economic malfeasance. However, I think the most valuable part of the essay is a specific example in which Golub illustrates the economic illiteracy of Obama and his advisors. Specifically, he points out that Obama's plan is to allot approximately half of his nearly...(Read Full Post)