Times vs The White House
Popularity Isn’t Everything
Another Great Depression?
We don't have to go back as far as FDR to see the future. Just last night I was looking at a 1965 World Book Encyclopedia yearbook article on Congress, which in LBJ's own words
"... enacted more major legislation, met more national needs, disposed of more national issues, than any other session in this country or the last."
He
... asked Congress on Jan. 8, 1964 ... to declare "all-out war on human poverty and unemployment" ... All this and more could be done without an increase in spending, the President said.
So how's that war going, nearly 45 years later? Was "a $947,500,000 offensive" enough? Is any amount ever "enough"? That Congress
authorized spending in excess of $200,000,000,000 - more than any other Congress, in peace or in war.
How much will be spent in the near future, and how much will be lost?
I recommend the comments beneath Sowell's article. My favorite lines:
Let he who is without wealth cash the first check!
"What should the government do?" someone asked Ludwig von Mises. He replied, "Nothing ... sooner."
Posted by: Amritas at December 23, 2008 03:15 PM