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Here are some news stories and articles which might be of interest to you. I've posted the opening section, and if you want to read more, you can click on "Read the whole article" to go to the original item. You'll find a variety of things here -- current news, political analysis, opinion pieces, articles about religion -- things I've happened to read and want to share with you. It's your Reading Room, so take your time. Browse. You're certain to find something you'll want to read.

Thursday, October 8, 2009

Stimulus scam

Look for comparative results

by Richard W. Rahn

Has the economic stimulus program helped or hurt? Administration officials keep saying the stimulus program has been beneficial, but where is the evidence?

There are several ways to see if it is working as advertised. First, what did the proponents say would happen when they were pushing the plan versus what has happened? Second, how has the United States fared compared to other nations that had smaller or no stimulus programs? Third, how have the results to date compared to what pro-stimulus, Keynesian-school economic theorists advocated versus what other theorists (principally Austrian-school) who largely opposed the stimulus plans said?

U.S. unemployment already has reached 9.8 percent, with 15.1 million Americans unemployed, and more than 7.1 million jobs have been eliminated since the beginning of the recession. President Obama's economic advisers said in the beginning of this year that the unemployment rate would rise to 9 percent with no stimulus package and would only rise to a maximum of 7.9 percent with the stimulus bill, peaking during this past summer. Stimulus proponents clearly have failed the first test (despite Vice President Joseph R. Biden Jr.'s revisionist statements) and there is zero evidence for their claims that more jobs would have been lost without the stimulus package...

Read the whole article.

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Fr. Phillips is the founding pastor of Our Lady of the Atonement Catholic Church, the first Anglican Use parish, established on August 15, 1983. Not that there is any confusion, but he is on the left, shown in his younger, less gray-headed days.