This was a stunning display of political and economic honesty. Hannan knows that the more his government’s consumption of GDP increases, the harder it is to create conditions of prosperity.
The conservatives in the US need to grow a pair and begin to articulate the case against socialism. I don’t know if the Republicans can do it anymore. A majority of them seem to be Democrat lite or afraid to confront liberals with fact and truth. Hannan is the man, it’s nice to know there is someone in the West who knows economic reality and will speak it.
Robust growth can not occur without attraction of private capital. Governments are historically ineffective at creating private sector jobs. Sound monetary policy coupled with tax reduction, repeatedly creates conditions where wealth grows. Without wealth, growth can not occur. The unemployed and the impoverished can not employ workers. Hannan implicitly understands these realities.