A Thought from Milton Friedman

Friedman wrote "Capitalism and Freedom" originally published in 1962. He opens the Introduction with the following:

"In a much quoted passage in his inaugural address, President Kennedy said "Ask not what your country can do for you-ask what you can do for your country" It is a striking temper of our times that the controversy about this passage centered on its origin and not its content....The paternalistic "what your country can do for you" implies that government is the patron....The organismic "what your can do for your country" implies that government is the master or the deity, the citizen, the servant or the votary..."

He goes on. But in today's voices over the Stimulus package all one hears if "what am I going to get out of it" from the voters and from Congress "what can we pack in to get more votes" A twist and turn on the old words but telling, things have just gotten worse!

The more one looks at this Stimulus package the more concerned one becomes. The expenditure of a dollar of government spending allegedly creates a slightly higher increase in GDP, however there is a delay from the time spent and a decay after it is spent, thus it is delayed gratification with a transitory response. But the current package is a massive one in that it displaced from today the hard decisions which will make the morrow worse.