“[It’s] like mailing a letter to the fire department to tell them that your house is on fire.”
Economist Thomas Sowell on the Democratic stimulus bill. Out of $355 billion newly appropriated, the Congressional Budget Office estimates that only $26 billion will be spent
this fiscal year and only $110 billion by the end of 2010. Dr. Sowell says using long, drawn-out processes to put money into circulation to meet an emergency is ineffective.
(Read Dr. Sowell’s commentary here.)
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