Don’t Bail Out Losers

That’s the advice of Arthur Laffer on this weekend’s Wall Street Journal Editorial Report on Fox News. Transcript here. Or click on the first link and go to about 1/4 of the way through. It’s all good.

…the stimulus package, I don’t think it’s going to help the economy, Paul. You can’t bail someone out of trouble without putting someone else into trouble. If you spend that money bailing losers out, like the auto companies and some of the other companies, those moneys come from winners and it just hurts the economy long run. That that’s really the essence of what our book is all about is how, in the long run, these taxes will have to rise and it will do a lot of damage to the economy.

I think I have my tea party sign figured out:
losers.gif

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