“Give me a one-handed economist,” Harry Truman once famously demanded. “All my economists say, ‘On the one hand … but on the other’.”
His frustration was understandable. But when it comes to legislation that can affect the well-being of all Americans, it’s vital to weigh all the pros and cons.
Consider the radical $3.5 trillion spending package before Congress. Some lawmakers are demanding passage based on a one-sided assessment of the impact its proposals will have on American workers, families and businesses. But as workers who have recently benefited from significant wage increases only to see them eaten away by high inflation now realize, it’s important to consider not only the benefits something provides, but also the consequences.
So sure, tell American workers and families about the shiny new government programs that might be available to them as policymakers seek to spend another $27,000 per household.
But tell them also how those big government policies might affect the taxes they pay, the paychecks they earn, the opportunities available to them, and the prices they’re charged for everything from gas and groceries to utilities and child care.