Our economic ignorance just keeps on showing.
We hear that the "stimulus plan" is going to create 3-4 million jobs.
Excuse me!
"The most basic flaw is that many of its projects costing tens of billions of dollars cannot be started for several years, meaning they will yield no short-term stimulus."
This is not a stimulus program. It does not stimulate enough to have any kind of impact.
"You need a GPS system to figure the path this huge outlay of funds will take to excite economic activity for the next expansionary period."
What we need is for government to get out of the way and let the private sector bring us back.
Trust me. It will. I would rather give the private sector $800 billion of tax cuts and incentives!
At least, the private sector has a history of creating jobs, i.e. prosperity.
Where can you find any evidence of government creating jobs?
