Saturday, November 6, 2010

The debt ceiling debate

 “New Stimulus Plan Without Congressional Approval” « The Volokh Conspiracy 

The debate over raising the debt ceiling will be interesting and intense. I hope we can have the debate in the context of the kind of crony capitalism that has characterized the economic situation in which we find ourselves.

Pay attention to the way in which the federal government (using tax dollars and funds borrowed on behalf of taxpayers) pick winners and losers in the marketplace. Don't get distracted by partisan arguments -- increasing the "size of government" (more properly, the size of its resource base) allows both parties to direct resources to their allies.

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