Freeman

IN BRIEF

Congress Passes $1 Trillion Stimulus Spending Bill

DECEMBER 14, 2009

Filed Under : Inflation

“The Senate on Sunday sent President Obama another hot potato, passing a $1.1 trillion catchall spending bill that includes money needed to run dozens of government agencies but also is loaded with pork-barrel spending.

“The bill, which funds most domestic federal agencies for the rest of this fiscal year, marks a 12 percent spending increase. Democrats said the spending was needed to counter neglect during the past eight years and that the money would act as another stimulus to create government jobs.” (Washington Times, Monday)

A trillion here, a trillion there, pretty soon it adds up to real inflation.

FEE Timely Classic:
The New Deal and the State and Local Governments” by Robert Higgs

comments powered by Disqus

EMAIL UPDATES

* indicates required

CURRENT ISSUE

December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
Download Free PDF

PAST ISSUES

SUBSCRIBE

RENEW YOUR SUBSCRIPTION

Essential Works from FEE

Economics in One Lesson (full text)

By HENRY HAZLITT

The full text of Hazlitt's famed primer on economic principles: read this first!


By FREDERIC BASTIAT

Frederic Bastiat's timeless defense of liberty for all. Once read and understood, nothing ever looks the same.


By F. A. HAYEK

There can be little doubt that man owes some of his greatest suc­cesses in the past to the fact that he has not been able to control so­cial life.


By JEFFREY A. TUCKER

Leonard Read took the lessons of entrepreneurship with him when he started his ideological venture.


By LEONARD E. READ

No one knows how to make a pencil: Leonard Read's classic (Audio, HTML, and PDF)