While everyone else has been having fun with Bill “Perpetually Wrong” Kristol’s final column for the New York Times, I would be remiss if I didn’t deal with this breathtaking bit of historical and economic fatuousness from ideological (and literal) cripple Charles Krauthammer on Fux News last Saturday:
Look, this is one of the worst bills in galactic history. It’s not only on the timing of it — as we saw from the Congressional Budget Office, more than half of the infrastructure stuff with the bridges and roads will not be spent until two years hence when the recession will be likely over or coming out of it, and it will only add to inflation, not jobs.
Umm, Charles? Funding infrastructure maintenance creates construction jobs, which in turn feed money to the contractor supply companies, which can then afford to hire people, who can then feed and clothe themselves, stimulating those industries, and on and on… Is any of this getting through to you?
No? Then think about it this way. Crumbling infrastructure is part of the problem with keeping our status as the world’s #1 economy. Remember the I-35W bridge collapse? One of the main reasons why that was such a major news item is that it was a major means of transporting goods into and out of Minneapolis. With that vital link gone, it suddenly became a lot harder (read: more expensive) to bring stuff into and take it out of Minneapolis, which put a serious dent in the local economy. And since Minneapolis is a major city, it’s a major player in the national economy. In other words, when Minneapolis suffers, America suffers.
And galactic history, Chuckles? Seriously. Galactic history? How’s that comment going to look when we’re up on the galactic stage having a huge prick-waving contest with the rest of the aliens?
Well, yeah, Zort. Did you hear about that Earthling named Krauthammer who said that his leader’s economic stimulus policy was one of the worst in galactic history? It couldn’t have been worse than Zarthog the Flatulent squandering the lives of 1,000,000 Gvoontlings in the War of Primus XII!
You get the idea. Meanwhile, let’s deal with the rest of Krauthammer’s tripe.
This bill has a fifth of a billion for grass at the Jefferson Memorial. FDR left behind the Hoover Dam and Eisenhower left behind the Interstate Highway System. We will leave behind, after spending $1 trillion, a dog run in East Potomac Park.
See, this is why I created the category “You Fail Economics Forever” — anyone who paid attention in Econ 101 will tell you that the very foundation of modern industrial society is the infrastructure used to produce widgets. You have to invest in capital projects in order to produce commodities that people want. The electric grid to power factories, the machines to make the products, the roads to transport raw materials to factories and finished goods to market — all of it is absolutely vital for businesses to not just merely survive, but thrive. It’s the sine qua non of an industrial society, and Krauthammer snidely dismisses it all as so many Bridges to Nowhere™.
Seriously. Dude, go back to psychology. You’d be much happier there. And more successful.