As we keep watching federal stimulus funding keeps prop up government, but JLF’s Roy Cordato calls it as he sees it:
“The stimulus package is a failure because it can’t succeed,” Cordato explained. “You can no more stimulate an economy by transferring resources from one group of people within the economy to others than you can receive a blood transfusion by taking blood from a vein in one arm and injecting it into a vein in the other arm. It makes no difference who the money goes to or whether people spend it or save it.”
…. “History shows that raising taxes during an economic slump slows the recovery from that slump,” he said. “Unfortunately, history also shows that North Carolina lawmakers spend too much money during good economic times and respond to bad times by raising taxes. It looks as if the new state budget will continue that disturbing trend.”
If you want more, watch below.
