Ron Paul has a new article out at CNN:
A year after a nearly $800 billion stimulus package was passed, the U.S. economy still finds itself mired in mediocrity.
Economic growth is stagnant, unemployment remains higher than almost any time since the Great Depression and millions of Americans are upset that trillions of taxpayer dollars have been committed to numerous government bailout programs with no improvement of the economy within sight.
They question, rightfully, is where this money is going and why it hasn’t been as helpful as the government has claimed.
Paul points to a couple main reasons: 1. Stimulus spending does not address the root of the problem; 2. These policies stave off the correction needed for the economy to recover, proloning a false boom; 3. Such government spending at best moves money around, and, more often, takes away from endeavors the market would actually support — it creates no net growth; and 4. The “stimulus package enables the government, rather than the market, to pick winners and losers.”Published in