◼ With those remarks, business magnate and former presidential candidate Steve Forbes drew thunderous applause from his audience last Wednesday. - Austin Hill/Townhall
Forbes had just finished explaining why a confluence of cheap credit, billions of dollars in stimulus spending, lots of new taxes and government regulations, and the ensuing government debt have all failed to stimulate our economy. He was confirming with his technical explanation, what many of us know instinctively in our hearts: the reality that no organization- no individual or family, no business, no government – can spend its way out of debt and re-distribute its way to prosperity.
We should all hope that Forbes is right – that “as free people, we won’t stand for it.” Because if we continue to vote for politicians who viciously take expanding portions of wealth from our society’s producers and selfishly redistribute that wealth to those of their choosing, eventually the politicians will run out of other’s people’s money to redistribute and we will all suffer the consequences.