Irresponsible Irony

Don Boudreaux links on Café Hayek to a letter of his which was published by the Business and Media Institute.  He argues that the calls for responsibility which resounded throughout Obama’s inauguration speech are belied by his intentions to continue to spend recklessly to “stimulate” the economy.

“Remember,” Boudreaux cautions, “that what [the government is] doing is taking our money and deciding for us how to spend it.  Presumably, that is because they are wiser at spending our money than we are at spending it ourselves.”  This rosy outcome is improbable, he concludes, calculating that each bureaucrat involved in designing the next bailout might be considered responsible for spending about $1.5 billion tax dollars each: “Absolutely no one can spend $1.5 billion of other people’s money responsibly.”

Published in

Post a comment