If it’s not value adding it cannot add to jobs or make an economy grow. Giving money to your mates might help your mates, it just won’t help anyone else. It will, in fact, make most people worse off.

If you still think Y=C+I+G is the answer to our economic problems even after the past four years I’m afraid I don’t have a cure for insanity.

The video is of Andrew Klavan which I picked up from Powerline.