Sunday, August 2, 2009

Juan Williams Needs A Course in Economics

According to Fox News contributing analyst Juan Williams, the cash-for-clunkers program is getting the ball rolling for the economy and history has shown us that you "can't just sit back" and let things take care of themselves. Really? So if I take money from one person and give it another so they can spend it, how does that help anyone since the first person is worse off? As far as our government aiding recovery, Mr. Williams needs to face the fact that the New Deal was a colossal failure, with unemployment in double digits as late as 1938 and a net private investment of minus $3.1 billion from 1930-40 (Depression, War and Cold War by Robert Higgs). It's always amazing to me what liberals consider a success when it comes to government programs.

Note: While his economic analysis is shallow, I do applaud Mr. Williams for emphasizing education, personal responsibility and entrepreneurship within the black community.

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