Monday, May 11, 2009

Going around again on "home" economics

Gov. Steve Beshear has a big cardboard $2 million novelty check for Bowling Green today for your children to redeem later.

A quick check of my state and federal constitutions shows nothing about a government role in anything like his claim to "stem the decline in surrounding property values..." and, while my economics texts mention propping up aggregate demand, they contain nothing to suggest borrowing public money to give to low income people to make them homeowners will work any better than reducing credit standards did.