Why Free Markets Will Save America

When President Obama took office, the country was experiencing an economic crisis. Keeping up with the old Keynesian economic tradition, the President, as well as many members of Congress, held the belief that government intervention was the only way to get the economy going again. Therefore, Congress approved over $2 trillion in stimulus funds and TARP funds for failing banks, as well as the $600 billion quantitative easing program by the Federal Reserve. The idea behind these funds was that they would create jobs, stabilize banks, and let credit flow to those who needed it. Also, Congress authorized nearly $220 billion in tax credits and homebuyer assistance programs to save a rapidly deteriorating housing market. More at www.silverunderground.com.

Published in

Post a comment