The federal government is about to pass a law that authorizes $800 billion or so of new expenditures. The Secretary of the Treasury will be introducing other new measures today. More such will be forthcoming. In addition, the Fed’s monetary policy will support this spending. These measures will not turn the economy around in a meaningful sense. The government cannot spend our way to more wealth. Lawmakers and bureaucrats are empowered to make laws and enforce them. They are in no position to do what millions of businesses do, which is find out what we want, produce it, and distribute … Continue reading The Stimulus of Abomination