Tuesday, 26 January 2010

Similar to making a silk purse from a sow's ear.

For Immediate Release
Monday, January 25, 2010
202-285-0244
www.freedomandprosperity.org





"Like Putting Perfume on a Hog"
New CF&P Video Shows Big Government
Is Not Stimulus and Not a Jobs Bill
(Washington, D.C., Monday, January 25, 2010) A new video released today by the Center for Freedom and Prosperity Foundation (CF&P) uses Labor Department data to demonstrate that the first stimulus bill did not create jobs and explains why politicians, in spite of the data, want to enact another so-called stimulus proposal.

Entitled, "Stimulus II: A Sequel American Can't Afford," the CF&P Foundation mini-documentary reviews unemployment rate data as well as total employment data to debunk the notion that jobs can be created by diverting resources from the private sector to government.

"Notwithstanding the Administration's fuzzy math, America has lost more than three-million jobs as the burden of government spending has increased," said CF&P Foundation President Andrew Quinlan, who also noted that "The video uses hard data to show last year's $787 spending bill was a flop."


Links to the video: YouTube | Yahoo | Capitol Hub
"Doing another stimulus and calling it a 'jobs bill' is like putting perfume on a hog," said Dan Mitchell of the Cato Institute, who narrates the video. "Rather than come up with cute names for wasteful spending, the best option is for politicians to get out of the way. The economy hopefully is already on the path to recovery, especially since the threat of government-run healthcare and a cap-and-trade bill is diminishing. The White House probably wants another stimulus in hopes of taking credit for any future good news," he added.

Executive Summary

Labor Department numbers show that the Obama Administration's $787 billion "stimulus" was a flop. Instead of holding the unemployment rate at 8 percent or below, the jobless rate soared to 10 percent. Now there is discussion of second so-called stimulus, which politicians are calling a "jobs bill." But making government bigger, the video explains, is a recipe for long-run stagnation and lower living standards, regardless of what the policy is named.

Below are the links to the three other CF&P Foundation videos mentioned in the video:

Keynesian Economics Is Wrong: Bigger Government Is Not Stimulus
http://www.freedomandprosperity.org/videos/keynesianism1/keynesianism1.shtml

Obamas So-Called Stimulus: Good For Government, Bad For the Economy
http://www.freedomandprosperity.org/videos/obama-stimulus/obama-stimulus.shtml

Free Markets and Small Government Promote Prosperity
http://www.freedomandprosperity.org/videos/growth2009/growth2009.shtml



The following are the links to other CF&P Foundation videos including Tax Competition Primer, VAT-Hidden Tax, Global Flat Tax Revolution, Cutting the U.S. Corporate Income Tax, Promoting Prosperity, Obama's So-Called Stimulus, Obama's Deferral Proposal, Case Against Class-Warfare Tax Policy, President Obama's Dishonest Demagoguery on Tax Havens, a three part series on the Benefits of Tax Havens and a another three-part series on the Laffer Curve.
Link: http://www.freedomandprosperity.org/videos/videos.shtml



Web Links:

Youtube
http://www.youtube.com/watch?v=985C0uh1HKA

Yahoo
http://video.yahoo.com/watch/6842319/17794666

Capitol Hub
http://capitolhub.com/video/9247/stimulus-ii-sequel-american-can%E2% 80%99t-afford


For additional comments:
Andrew Quinlan can be reached at 202-285-0244, andy@freedomandprosperity.org
Dan Mitchell can be reached at 202-218-4615, dmitchell@cato.org

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Web Link:
http://www.freedomandprosperity.org/press/p01-25-10/p01-25-10.shtml

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