The Times Journal & Russell County News
Thursday, Jul. 24, 2014 — RUSSELL SPRINGS & JAMESTOWN, KENTUCKY — russellcounty.net
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Another Stimulus!
In July 16 Issue

For all of you that received so much from the previous stimulus effort by our leaders in Washington, you can be thrilled there is  a second one being considered.

Now, let’s see, what all did Russell County receive from the last stimulus?

Uh, what did we receive from the last stimulus?

We can’t think of anything! Announcements were made the funds for the Wolf Creek Dam were a stimulus project but in reality, it had been approved months prior.

There are a few that have paid in nothing but will get a small check, they will be thrilled, but for those that pay in a lot and get little will not be so thrilled with another stimulus.

Many will say the stimulus is not working because the number of unemployed continues to rise.

But this is really only a secondary consideration. The real reason we do not need another stimulus is because this kind of intervention inevitably does more harm than good to the overall economy, especially in the long run.

Aside from needlessly inflating the national deficit, the reality is that a connection between governmental intervention of this variety and enhanced economic performance has never been empirically demonstrated.

It has been stated that anytime the market, the natural laws of supply and demand, is artificially manipulated by the government in an effort to improve the economy, the net result is to extend the detrimental impact of the downturn longer than would have been the case without the intervention. Many claim that there is considerable evidence that Roosevelt’s New Deal policies actually lengthened the Great Depression by at least a decade.

What everyone needs to understand is that the market is essentially self-correcting. When assets such as houses are over-valued by the artificial manipulation of interest rates by the Fed, the market always compensates for this interference and eventually adjusts the assets closer to their true value.

The same is true for “stimulus packages.” While they may appear to some to lessen the pain in the short-term, their ultimate impact on the economy is negative, counterproductive and dangerous.

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The Times Journal is a weekly newspaper issued on Thursdays. It was first published on October 13, 1949, by Andrew J. and Terry Norfleet.
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P.O. Box 190
120 Wilson St.
Russell Springs KY 42642
Phone: 270-866-3191
Fax: 270-866-3198
Russell County News is a weekly newspaper issued on Saturdays, and is mailed free to every address in Russell County, Ky. It was first published on February 1, 1913.
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404 Monument Square
Jamestown KY 42629
Phone: 270-343-5700
Publisher:
David Davenport
(publisher@tjrcn.com)
Managing Editor:
Greg Wells
(editor@tjrcn.com)
News & Sports Editor:
Derek Aaron
(sports@tjrcn.com)
Advertising Manager:
Stephanie Smith
(ads@tjrcn.com)
Business Manager:
Kim Haydon
(business@tjrcn.com)
Production Manager:
Renee Daffron
(people@tjrcn.com)
Jamestown Office:
Kim Graham
(rcnoffice@tjrcn.com)
PUBLIC MEETINGS
Members of the public may attend meetings. Boards or agencies may schedule other meetings at special times, but are required to notify the public.
FISCAL COURT: 2nd Monday of month, 6 p.m. in the Courthouse
RUSSELL SPRINGS CITY: 2nd Thursday of month, 6 p.m. in the City Hall Municipal Room
JAMESTOWN CITY: 3rd Thursday of month, 6 p.m. in basement meeting room at City Hall
SCHOOL BOARD: 3rd Monday of month, 6:30 p.m., Board of Education office in Jamestown
LIBRARY BOARD: 2nd Tuesday of month, 5 p.m. at Jamestown Library
AIRPORT BOARD: 1st Tuesday of month, 5 p.m. at Airport
TOURISM COMMISSION: 2nd Wednesday of month, 12:30 p.m. at Tourism Office
CHAMBER OF COMMERCE: 3rd Tuesday of month, noon at The Cove restaurant
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