When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Sunday, April 7, 2013

When will the Washington madness end?

Of all the billions and billions spent since 2008 on "stimulus," only 8% was spent on transportation and infrastructure--

Calafia Beach Pundit: Why is everyone so gloomy?: " . . . there was a huge increase in federal spending as a % of GDP that began in late 2008. As I noted in a post last October, over 75% of the $840 billion allocated to "stimulus" spending in the 2009 ARRA was essentially devoted to transfer payments: taking from one person and giving to another. Only 8%, or $65.5 billion, was spent on transportation and infrastructure projects. In the post-war era, we have never seen an increase in government spending of this magnitude. . . . when you consider that the huge increase in government spending was accompanied by a huge increase in regulatory burdens (e.g., Dodd Frank, Obamacare) . . . then we probably have enough ingredients for this to be an important driver of the tepid jobs market."

Stewardship is a forgotten concept in Washington.


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects