Private companies have a monopoly on that, right? Warren Meyer reminds us of the reality:
But supporters of government superiority to private enterprise argue that this is exactly why government is superior, because it does not have these short-term focused goals. HAH!
Politicians are among the worst at this. It used to be they would do short term things to get elected, leaving the following election to take care of itself. Now, they will take short term actions just to dominate the current news cycle. Next week? That’s an eternity, we have problems now. Every single action taken over the last two years by both this and the previous administration and the current one relative to the economy have been totally short-term focused. Let’s bail everyone out. Moral hazard? That’s the next administration’s problem. Just look at cash for clunkers, where the government paid $4000 for cars that blue-booked for $1500 all to pull September sales into August. But they won the news cycle in August!
Read the whole thing.