Government attempts to boost the economy through measures such as stimulus packages merely take money from hardworking taxpayers and throw that money into unproductive endeavors, into the sectors of the economy that already suffer from malinvestment or into make-work projects. Washington is throwing good money after bad, wasting hundreds of billions of taxpayer dollars and accomplishing nothing.
As the eminent economist Frederic Bastiat once pointed out, there is a difference between what is seen and unseen.
As we and many others have pointed out before, government interventions - mainly by the Fed and Congress - created the economic crisis and more government tampering will not result in a good outcome.
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