Friday, August 12, 2011
...what's amazing here, obviously, is that Mr Phillips is justifying building aircraft carriers because government spending creates jobs and stimulates the economy. And he's right about that! But it seems that there are no other things the government spends money on, apart from defence, that Mr Phillips believes can stimulate the economy. He appears to believe that while government spending on aircraft carriers leads to workers getting hired, spending their paychecks, and helping the recovery, government spending on highways, high-speed rail, education, and health care does not.
The tea-party movement has spent the past year arguing that stimulus doesn't work and cannot, by nature, create more jobs or economic activity. The idea that a major tea-party figure can turn around and make a bog-standard argument for defence spending on Keynesian grounds testifies to a startling capacity for cognitive dissonance.