Bastiat’s “Broken Windows” parable illustrates the absurdity of claiming that a broken window counts as economic “stimulus,” just because a little tornado of economic activity appears as the window is replaced. Most people over the age of five can at least dimly grasp the idea that you can’t achieve prosperity by destroying your own stuff.
But for the Left, Bastiat wrote an instruction manual, not a warning about a fallacy. We live now under the most purely absurd mega-scale demonstration of the Broken Windows ideal. It’s illustrated in the lunacy of the President trying to portray ObamaCare as successful because he killed millions of good private-sector insurance policies, and forced the victims to buy lousy new policies from the federal exchanges at gunpoint.
And it’s illustrated again in today’s economic news, as we learn GDP growth for the first quarter plunged to a horrifying 0.1 percent… and the only reason we’re not officially in an outright recession is because ObamaCare made health care more expensive, with a big surge in compulsory spending on Medicaid, which was already headed for insolvency before Obama came along.
Place your bets now that anyone who repeals ObamaCare will be told they are responsible for plunging the economy into recession, by taking away the artificially inflated prices and mandatory spending… just like anyone who trims the bloated, unsustainable federal government will be accused of causing unemployment to rise by putting all those well-compensated bureaucrats out of their jobs. We must keep printing bales of imaginary money and giving it to the Ruling Class, their business partners, and their dependents, or else the illusion of economic stability will disappear!