Fiscal Stimulus or Pandering?
Alan Reynolds writes,
The December unemployment rate was only 2.3% for government workers and 3.8% in education and health. Unemployment rates in manufacturing and construction, by contrast, were 8.3% and 15.2% respectively. Yet 39% of the $550 billion in the bill would go to state and local governments. Another 17.3% would go to health and education — sectors where relatively secure government jobs are also prevalent.
Now that is some fiscal policy I can get behind. Lets spend money in those areas of the economy where unemployment is already extremely low. Housing and manufacturing…pfffftt those guys can go to Hell.