Stimulus Spending Has Done Little to Promote Growth (Letter to the Editor)

Stimulus Spending Has Done Little to Promote Growth (Letter to the Editor)

June 22, 2010
Originally published in The Wall Street Journal

The stimulus package destroyed private-sector jobs, since it was financed by borrowing money from private citizens that would otherwise have been spent on private sector goods and investments. The Congressional Budget Office conceded in 2009 that the stimulus package would shrink the economy "in the long run" by driving up the national debt and thus crowding out private investment.

Government spending does not create jobs.