Stimulus Package Can’t Replace American Ingenuity

The stimulus package that President Obama will sign into law today will seek to supplement state government spending on municipal employment and government-owned infrastructure, making the government the employer of last resort.

Almost absent from the proposal thus far is any suggestion that market-oriented reforms will be given a chance.

In fact, the stimulus is being administered in a way that suggest the president and his advisers believe that the federal government can replace the market as the economic engine of this country.

Whatever one believes about the causes of this latest economic debacle, whether corporate greed or individual excess, the fact remains the free-market system has a two-centuries-long track record as the creator of unprecedented wealth in America. No government-administered program can match the ingenuity and strength of the American people.

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