Let feds build bridge to recovery
Not to pick on Mr. Stossel. He is one of the more amusing people on ABC News. But, like many, he is carrying his ideology too far. Like many conservative economists, he asserts that World War II was the only thing that helped the economy in Roosevelt's term. This strongly implies, if not outright insists, that the way out of the current recession is to go to war. Except, aren't we already in one? He also claims that no government spending ever creates wealth. But if it repairs worn-out roads and bridges, aren't we better off? Even weatherizing homes and schools, saving energy, will later allow precious capital to be used for other things.
There is also the specious argument that the government is taking capital away from the private sector, which is itching to build new plants, malls, buildings, or other projects. If only it were. And if the private sector were busy with new investment, it might be complaining about a shortage of workers. Haven't heard that one lately.
Yes, when the economy recovers and private business is keeping everyone busy, we can cut back on the public infrastructure work. But for now, it is a rare opportunity to get some public investment (yes, some of it IS necessary) done.
Peter VandeMotter
Mundelein IL