Don Boudreaux reminds us that when the stimulus was sold it was with a promise that 90 percent of the jobs created or saved would be in the private sector. Before anyone can focus on the outlandish claims made for the stimulus, we now have the outlandish claims made for the health bill. No doubt we are about to hear outlandish claims for the financial regulation bill and whatever new initiatives the ruling class wishes to impose on the country.Boudreaux links to They Don't Call It Stimulus No More
Like a rain dance that produces no clouds, we are now into our fourth round of federal deficit creation - the automatic "stabilizers," followed by the Bush (2008), Obama I (2009), and Obama II (2010) versions. With each dry day, the deficit dancing intensifies. When the rain finally falls, we will be told that the recovery is a tribute to the Keynesian Gods. But it's already clear that something has gone wrong: the "stimulus" chant has fallen silent. Our dance on a fiscal cliff has lost its theme music.