According to many politicians, we got here by not spending enough, not consuming
enough, and not regulating enough. Now government, like some mythical white
knight, is going to ride in to save the day by blanketing the economy with
dollars, hiring an army of new bureaucrats, creating make-work jobs, and sending
everyone some form of a bailout check.
The debate seems to focus
on whether this will cost enough to save the economy, or if this is just a “down
payment” with much more government spending to come. Talk like that would be
comical, if the results weren’t going to be so tragic.
Worsening Economic Woes Ahead
results will be worsening economic woes until we learn our lesson. But instead
Congress is behaving like drug addicts who must hit rock bottom before they are
ready to face reality. They are playing foolish games with the economy now
because they are thinking only of political expedience. This talk of job
creation is a perfect example.
Contrary to the belief of
many, the goal of the economy is not job creation. Jobs can be a sign of a
healthy economy, as a high energy level can be a sign of a healthy body. But
just as unhealthy substances can artificially give the addict that burst of
energy that has nothing to do with health, artificially created jobs just
exacerbate our problems.
The goal of a healthy
economy is productivity. Jobs are a positive outcome of that. A “job” could be
to dig a hole one day, and fill it back up the next, or perhaps the equivalent
at a desk. This does no one any good.