Dan Mitchell explains why Porkulus Part Deux is a surefire plan for economic stagnation.
Why Keynesian Economics Is Wrong
Labor Department numbers show that the Obama Administrations $787 billion stimulus was a flop. Instead of holding the unemployment rate at 8 percent or below, the jobless rate soared to 10 percent. Now there is discussion of a second so-called stimulus, which politicians are calling a jobs bill.
But making government bigger, this CF&P Foundation video explains, is a recipe for long-run stagnation and lower living standards, regardless of what the policy is named.
