‘Money Has To Come From Somewhere’: New York Winning Big From Biden’s Domestic Agenda Despite Poor Business Climate

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CEI’s Ryan Young is cited in Daily Caller on government subsidies:

“Subsidies make taxpayers worse off because that subsidy money has to come from somewhere—the taxpayers. That money could have had other uses,” Ryan Young, a senior economist for the Competitive Enterprise Institute, told the DCNF. “People who agree with Biden’s economic policies are more likely to ask for handouts than are skeptics. New York’s Democratic tilt means that it will naturally have more such supporters applying for grants. That selection bias, plus a large population, means that it makes sense for New York to have a lot of subsidized projects. Many of them will be counterproductive because subsidies make companies uncompetitive and dependent on government, and are vulnerable to cronyism. But the math makes political sense.”

Read the full article on Daily Caller.