In Charles Dickens’ novel “David Copperfield,” Wilkins Micawber delivers an economics lesson to young David that has been lost on most congressional Democrats, the president and many of us. “Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”
The so-called “stimulus plan” cooked up mostly by House Democrats is, in reality, a plan to stimulate government and make it an even greater presence (and burden) in our lives. The appeal to speed and urgency by President Obama is an invitation to overlook details of the bill, which would accelerate the transformation of America from a capitalistic system that exalts the individual to a socialistic system that exalts the state.
