I read a news item not long ago that reported the Occupational
Safety and Health Administration (OSHA) left about $6.4 million
unspent in funds provided to the agency as part of the American
Recovery and Reinvestment Act—the "stimulus" that was adopted
in 2009. A few observations:
It also recently was reported the rock star Bono said: "Capitalism
and entrepreneurial capitalism take more people out of poverty than
It is arguably more astonishing that such an astute thought
could come from an entertainer than to find unspent money at OSHA.
Perhaps Bono has the ear of the secretary of labor.
There is, of course, a more serious point to be made. Real,
sustainable job creation comes from the private sector, not by
providing stimulus money to federal regulatory agencies or, for
that matter, by simply having the government spend more money. Jobs
are created when owners and investors can upgrade or expand. Bono
gets that. Some legislators get that...
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