Tuesday, February 10, 2009
I heard this on the radio during my morning drive. It's from Barack Obama last night speaking to the media:
"But at this particular moment, with the private sector so weakened by this recession, the federal government is the only entity left with the resources to jolt our economy back into life. It is only government that can break the vicious cycle where lost jobs lead to people spending less money which leads to even more layoffs."
What??? This statement is just false. "The Federal government is the only entity left with the resources to jold our economy back to life." Sorry Obama, but I'm not sure if you realized this yet (well, obviously you have not), but the government receives it's resources from the private market. The government is not a for-profit business, it survives solely on the private market for it's income. That being said, how is the government the 'only entity left' with resources that can miracoulously 'jolt' our economy back to life? Am I the only one dumbfounded by these ignorant comments that are simply wrong.
No President Obama, government is the least efficient entity that can 'spend' money in such a way that will 'jolt' the economy. The money is being taken from the private market and potentially efficient if not efficient means to an entity that inevitably spends money inefficiently.