The Hill News

We’ve just passed the second anniversary of "economic stimulus" under President Barack Obama. Aside from spending on the stimulus itselfâ€"the actual price tag soon climbed from $787 billion to $862 billionâ€"not much else has been stimulated.

Well over half-a-trillion dollars have been poured into the U.S. economy courtesy of the American Recovery and Reinvestment Act of 2009. Result? Unemployment has barely budged, housing prices continue to fall in many markets, and more mortgages slip into foreclosure.

How can this be happening when so many people in government assure us that government spending spurs the economy? Because it’s not true. For government to pour money into the economy, it must take money out of the economy in the first place. To hand out money, government must first take money from taxpayers.

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