Libertarians object to national stimulus plan

Here's a statement from the Libertarian Party in opposition to President-elect Barack Obama's plan for a massive stimulus package intended to jump start the economy. Officials in and around San Bernardino are practically salivating at the prospect of federal cash for local projects, but the small government minded Libertarian Party doesn't expect success to come from a new New Deal.

Here's their perspective:

Libertarian Party Slams Obama for Spending Proposals

WASHINGTON, D.C. - American's largest third party is calling plans by
the incoming Obama administration a "multibillion-dollar boondoggle."

"We're not going to spend our way to economic recovery," says Andrew
Davis, a spokesperson for the Libertarian Party. "You can't even call
Obama's economic plans a gamble because the results are written in
stone. We've tried this Keynesian experiment many times in the past,
with no proven success. It's nothing but a multibillion-dollar
boondoggle."

The Libertarian Party says that Obama's spending proposals, which
include funding the largest public works program since the 1950s,
will take too long to implement and don't pass a cost/benefit test.

"The best plan for economic recovery would be giving more money back
to taxpayers in the form of tax cuts, which can increase consumer
spending and increase job creation," says Davis. "It will also avoid
the corruption and wastefulness of government spending--something that
must be addressed at once if we expect to remain a free and
prosperous nation."

"Public works projects, like those proposed by the Obama
administration, will take too long to implement and many will cost
far more than their economic benefit," Davis explains. "So, not only
will the government be spending taxpayer money on wasteful projects,
it be spending money during a time when economic relief is not
needed. Conversely, tax cuts are always in season."

The Libertarian Party also warns that adding close to a trillion
dollars in additional government spending to the budget will push the
United States closer to financial ruin.

"Elected officials don't like to talk about the reality of government
spending because it's not an issue that gets them reelected,
especially when they will be long-gone before it comes time to pay
the piper." says Davis. "However, we've reached an event horizon in
spending that if government doesn't immediately begin to cut its
programs, the only option will be massive tax increases unlike
Americans have ever seen."

Davis says the government's focus should be on permanent and
significant tax cuts. "However, any tax cuts absolutely have to be
offset by a reduction in government spending, or else we're merely
asking for higher taxes in the future," Davis explains. "We must not
make the same mistakes of the Bush administration, which cut taxes,
but also dramatically increased government spending."