Economic Cycles

All the economics and cycling you could want.

Food Stamps Are No Free Lunch

leave a comment »

I was just alerted that the op-ed I wrote was published in the Summit Daily News today. I also learned that it will be featured in a point, counterpoint in the Denver Business Journal next week. This is exciting for a couple reasons. For one, I rarely ever write for myself. 99% of the writing I do at my job is ghostwriting. It’s nice to have your name in lights every now and again. Secondly, I’ve only penned 3 op-eds in my life, this new one being the third. So far I’m 3 for 3 in getting them placed in newspapers across the state. Score!

In this op-ed I take on some basic economic ignorance I’ve seen spewed across the Internet. This bit of ignorance is the typical Keynesian story about stimulating the economy with government spending. In particular, I take on the food stamp and unemployment insurance “stimulus” fallacy.

Here is the link to the Summit Daily article.

What’s the quick takeaway? I’d say it’s this bit,

Since there is no magic money fairy, food stamp and unemployment programs have to get their money from somewhere. That somewhere is productive people — entrepreneurs, employers, employees, and anyone else who created wealth and earned money. Taking from wealth creators to give to wealth consumers does not “stimulate” our economy or make our country richer.

Advertisements

Written by jlongo12

August 26, 2011 at 2:15 pm

Posted in economics

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: