As a free market economist, I am against the “free money” so-called stimulus package being supported by the majority of the GOP Senate. Thank you Sen. Tim Scott, Republican of South Carolina, for voting no.
I wish North Carolina had a senator who understood free market economics. Unfortunately neither of ours, ThomTillis or Richard Burr, seem to qualify.
Every time the government has passed out free cash, it is paying folks not to work. One economic principle is anything you subsidize, you get more of. If the government pays folks not to work, guess what you get? More unemployment.
This was certainly true during the Great Depression and the so-called “shovel-ready” projects during Obama years. And what did that get us? A wasted trillion dollars and less than 1% economic growth throughout the eight Obama years.
If the president and the Congress go down the same path, we will realize the same fate.
A better approach would be to empower entrepreneurs and private-public economic development commissions.
I believe with a combination of SBA, FHA, HUD help, federal, state and local government economic development officials will allow small businesses in the 7 Rivers Basin to generate up to 2,500 high -paying jobs immediately and another 2,500 jobs within 18 months.
With proper incentives from grants, loans and loan guarantees and reduced red tape, the free enterprise system will keep our jobs and local economies healthy.
Unfortunately, downtown Whiteville is a ghosttown. We joked recently that the safest place for my yellow lab, Swimbo, to sleep would be in the middle of Madison Street.
Come on folks, be creative and work at home, with proper social distance. The very worst thing you could do is to wait on free money from the government. Can your family survive on $1,000? Absolutely not.
Ed Johnson
Lake Waccamaw