Yesterday's N&O included this letter of mine in their Sunday forum:
The N&O continues to defy logic and common sense with yet more urging for
the federal government to do something about our ailing economy ("Make it
stimulate," editorial, Feb. 4).
Common sense and experience could not possibly have been involved in your
plea that rescue measures be enacted both promptly and carefully.
Yes, because we all know how carefully politicians will spend other people's
money in a hurry.
Moreover, you apparently believe that Congress can somehow craft a nearly
trillion-dollar-bill in such a precise mix of expenditures and tax cuts as to
provide the biggest positive effect on employment.
To assign such superhuman powers to the very flawed individuals residing on
Capitol Hill redefines the term false hope to a whole new level.
The federal stimulus bill will not jolt the economy. Such an analogy implies
there is an external power source. In reality, every dollar government has must
first be taken from citizens. Government cannot create jobs or economic growth.
It merely redirects resources away from private investment based on economic
calculation to government spending motivated by political ends.