Bonus Quotation of the Day…

by Don Boudreaux on January 15, 2014

in Debt and Deficits, Gambling with Other's $, Other People's Money, Politics, Subsidies

… is from Holman Jenkins’s essay, “A Private Railroad Is Born,” in today’s Wall Street Journal:

We live in strange times. Circumstances have conspired to invite pols everywhere to spend money as if bills never come due – and to feel righteous about it. High-speed rail, for some, has become a religious sacrament. For others the appeal is less mystical. How much easier it is, after all, to borrow and squander untold billions on a bullet train than to enact immigration and labor policies that might actually save the Japanese economy. How much more pleasant for politicians in Washington and Sacramento to fret about high-speed rail than to pursue the pension, education and tax reforms the country actually needs.

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