Public spending and investment has played a critical role in the development of America's physical infrastructure and our explosive economic growth. Government investment in railways, roads, bridges, schools, parks and social programs has contributed greatly to the American economy during the last two centuries.
Cry Wolf Quotes
The danger is from those who believe that government should be the source of all economic hope for the individual. The danger is from those who believe that government planning is a better device than the free marketplace for distribution of goods and distribution of the nation’s wealth.
What appears to be simple government planning, to achieve what seem to be worthwhile goals, will absolutely degenerate into total planning. It will encompass production numbers, product design, and ultimately product ownership. And whether you want to call the enemy government planning, or government establishment of goals, there is only one name for it. It is Socialism. If that’s what you want, you have no problem. Just do nothing. And the liberals will elect people to Congress who will give it to you.
This bill could affect the business of every executive in this room. It could affect the entire national economy and the private lives of every American citizen.
I assure you, Senator Javits and others are dead serious in this frontal assault against our free enterprise system. Make no mistake about it, we are talking survival.
Related Laws and Rules
Backgrounders & Briefs
By Lawrence B. Glickman, Department of History, University of South Carolina
An overview of historical debates over, and the importance of, public investment.
By Jason Scott Smith, University of New Mexico
History is replete with evidence from the Great Depression that public investment in infrastructure did indeed generate employment and stimulate economic growth.