Learning From Past Failures

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History is set to repeat itself, again. The American Recovery and Reinvestment Bill of 2009 that is being debated in Washington has all the hallmarks of a classic deja vu. Last year the federal government sent out rebate checks in an attempt to stimulate the economy. They also dumped huge sums of money into failing Wall Street banks and insurance firms. Both had no effect. It’s long past time that central planners learned that throwing good money after bad will not stimulate the economy. We must instead cut taxes, reform burdensome regulation, and eliminate government waste. It is not until we pay attention to our past history of stimulus failures that we can begin to move toward the future.

Gina Shreve, Knoxville

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