Frederic Bastiat alive and well in Senate hearing

posted by
November 21, 2011
Libertarian News Examiner
by Garry Reed  
Posted in Commentary

"How exactly did 'the U.S. economy' lose $26.5 billion dollars? Did $26.5 billion waft up into the stratosphere and dissipate into outer space? Was it flushed down a million toilets? Burned in a bonfire? No, 'the US economy' did not lose $26.5 billion. The air travel industry lost $26.5 billion. People simply spent that same $26.5 billion on other things 'in the US economy' instead of spending it on air travel, that's all." (11/20/11)  

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