With unemployment now well above where the government said “the stimulus” legislation would cap it, Vice President Joe Biden on Sunday explained (emphasis added):
Everyone guessed wrong at the time the estimate was made about what the state of the economy was at the moment this was passed.
Well, as the IBD article makes clear, everyone didn’t guess wrong. More interesting though, is the bizarre faith in government to run the economy when the institution is apparently run on shoddy guess work that is easily foiled in times of “crises”.
There is a better way. Instead of empowering a central authority, which can obviously lock the entire nation into a wrong decision, let people be free to make their own decisions. Some will succeed and some won’t, but at least those who are successful might be in a position to help their neighbors. It is certainly better than the entire nation being worse off because of government guess work!
