All us would love to see some optimistic signs in our sagging economy. What could brighten the outlook for prosperity?
That’s a big question — and a big debate. But recent history gives us at least some indication of what won’t boost the economy.
Looking back on the failure over the past two years of federal “stimulus” spending of various types to turn the economy around, do you find it encouraging, or alarming, that Federal Reserve Chairman Ben Bernanke has hinted that even more stimulus may be on the way?
Is it even conceivable to you that a person in a position of such importance in our economy would suggest that additional government intervention is what we need to turn around the negative effects of earlier government intervention?
We see nothing in our massive national debt, nor in the 9.2 percent unemployment rate, nor in the distressed housing market, nor in painfully high food and energy prices to suggest that throwing good money after bad is a solution.
No one has a perfect — much less instant — remedy for the economy. But wouldn’t it be a good start to stop doing the wrong things?
Chattanooga Free Press, Tenn. (July 21)