economic stimulus

Obama’s Stimulus: A Bit of Pork, a Lot of Opportunism

A study [$] published in the winter edition of Political Science Quarterly considers two possible reasons for why the 2009 American Recovery and Reinvestment Act (ARRA) failed to sprinkle Uncle Sam’s magic dust onto those areas of the country that were being hardest hit by the recession. 

Was it because well-positioned politicians were successful in delivering the pork? 

“We’re Talking Bridges…”

On Labor Day, President Obama announced his plan for an additional $50 billion in spending, mostly on transportation.  An area Obama specifically mentioned was more spending for bridges, playing on the widely held perception that America’s bridging are falling apart.  While clearly there are bridges that are greatly in need of repair and represent a threat to passenger safety, what has been the overall trend in bridge quality?  In one word:  improving.

The ‘Consumer Spending’ Myth

Journalists talk endlessly these days about the need for more consumer spending to revive the economy, and for government programs to juice consumer spending. Economist Steven Horwitz takes on the assumption that spending is the key to economic activity:

Bob McDonnell: The Modern Republican

This is from the Reagan administration’s deregulatory 1981 energy plan: “All Americans are involved in making energy policy. When individual choices are made with a maximum of personal understanding and a minimum of government restraints, the result is the most appropriate energy policy.”

Yoga Instructors: Enemies of the State(s)

The NY Times reports today on various state government efforts to regulate yoga classes by forcing instructors to obtain a government license. 

I’m not going to get into why government licensing is a pernicious racket here. Rather, I just want to make a point about the nature of the mini–Washington DCs currently in charge of laundering Uncle Sam’s so-called economic “stimulus” money.

From the NYT article:

Save Free Enterprise—Starting Now

As Dan Mitchell noted below, the U.S. Chamber of Commerce has launched a “Campaign for Free Enterprise” to stop the “rapidly growing influence of government over private-sector activity.” Chamber president Thomas Donohue told the Wall Street Journal that an “avalanche of new rules, restrictions, mandates and taxes” could “seriously undermine the wealth- and job-creating capacity of the nation.”

So-Called Stimulus Could Lead to $50 Billion of Fraud

MarketWatch reports that experts are predicting about $50 billion of fraud will result from the $787 billion pork-barrel spending bill approved by Congress earlier this year. That’s a huge amount of fraud being financed with borrowed money, but there is a silver lining to this dark cloud. Using basic math, that means only $737 billion of the so-called stimulus can be classified as waste:

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