That's right. Senator Barak Obama is pleading today for a $775 billion "stimulus" package that is actually a wealth transfer of $5,037 per taxpayer to those he chooses. If you believe that Washington's will spend that money better than you will, don't say a word. Just let them do it.
Today, Barak said that "only government can provide the short-term boost necessary to lift us from a recession this deep and severe." To say he is a fool is to sell him short. In politics, making the public fearful has worked since the Israelites begged Jehovah for a king to protect them.
Those who understand the mess we are in all say the same thing: the free market works and we wouldn't have gotten into this tragic mess if Washington had only left the mortgage market alone. Instead, Washington created the incentives for over-lending, and now that false prosperity is at an end.
There is only one solution. Let the market work. The only thing government can do by MORE meddling is to make the painful transition deeper and longer. That is precisely what the "Stimulus Plan" will do.
