by Bryce Buchanan
The COVID-19 pandemic can be used to illustrate two problems that are both more destructive than the virus. The problems relate to how Americans view the role of government in their lives and to the belief that government money can always fix problems.
Let’s look at the money issue first. The immediate reaction of our government to the virus threat was to spend massive amounts of money. The latest news is that politicians plan to “boost” the economy with nearly two trillion dollars in spending and loans. “The package is coming in at about 10% of GDP. It’s very large,” says Larry Kudlow. For a plan of this size to sound like a good idea, you need to ignore some important economic facts.