Common Sense: 1, Pelosi/Obama: 0

Arthur Laffer gets into the game:

The flaw in their logic is that when it comes to higher unemployment benefits or any other stimulus spending, the resources given to the unemployed have to be taken from someone else. There isn’t a “tooth fairy,” or as my former colleague Milton Friedman repeated time and again, “there ain’t no such thing as a free lunch.” The government doesn’t create resources. It redistributes them. For everyone who is given something there is someone who has that something taken away.

This is not very complicated.

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Published in: on July 8, 2010 at 1:00 pm  Leave a Comment  

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