Obama et.al. want to increase spending in order to stimulate the economy.
So a big corporation decides to buy a $50M corporate jet and they get in big trouble and have to cancel the order!
And the reason the big corporation got in trouble was because they received government bailout money specifically for the purpose of increasing spending. I would consider buying a jet as spending.
That is government management in a nutshell.
What's worse, there was a company on the other end of that canceled deal that employed people, that ordered raw materials, and so on; and all of that was canceled too.
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By this same logic, Citi could have gone out and hired mime's, because someone has to make their costumes.
ReplyDeleteNot a bad idea. More seriously, the problem is that in fact everyone should be conserving cash (misnamed "hording") and not buying jets and also not getting bailouts.
ReplyDeleteBut IF your policy is that everyone should be spending to "stimulate" the economy, then why shouldn't Citi hire mimes and all of the bailed-out banks buy jets?