Sunday, May 27, 2018

Quote of the day 27th May 2018

"The assumption that spending more of the taxpayers' money will make things better has survived all kinds of evidence that it has made things worse." 

(Thomas Sowell, American economist)

2 comments:

Jim said...

how can more taxpayers money be spent when we currently run a deficit, meaning there is already more spending than money.

which in turn means that borrowing is happening, which means interest is being paid, which means less money is going towards its purpose and more is going towards paying interest to banks.

So in effect what is happening is we are tying down future generations to pay endlessly for stuff they never did benefit from.

Chris Whiteside said...

Perfectly fair comment on governments on either side of the Atlantic spending money they don't have, as in the present UJK situation where we have a deficit.

However, Thomas Sowell is an American economist and he was referring to the fact that even if you are not running a deficit, throwing taxpayers' money at a problem does not always make the situation better.