In Defense of Doing Nothing

A summary look at The Cato Institute’s excellent Cato’s Letter: Quarterly Message on Liberty featuring an editorial by Cato senior fellow and director of undergraduate studies in the department of economics at Harvard, Jeffrey Miron.

On the stimulus Miron writes:

“The American Recovery and Reinvestment Act of 2009-better known as the “stimulus”-represents a massive transfer of resources away from the private sector to politically connected interest groups. The funds will come from our taxes and flow to the education sector, the health care sector, the creation of “green jobs,” and federal contractors and unions…The stimulus was not about improving economic efficiency but about distributing funds to favored interest groups…Part of the stimulus bill came in the form of tax cuts, but these were mainly one-shot cuts aimed at redistribution rather than improved economic efficiency.”

Barack Obama fronts a radical progressive, income redistributing, vote buying, anti Second Amendment, new world order agenda incubated at the Phoenix Project. The Agenda has been backboned and supported by among others Open Society Institute, Democracy Alliance, Center for American Progress, Third Way, Action Network on Small Arms. The Association of Community Organizations for Reform Now (ACORN) receives funding from Democracy Alliance.

– Dick Young, Cato Benefactor