In an infamous economics story, is the 'Broken Window Fallacy'. In a small remote village, a boy throws a rock thru the window. The shop keeper must hire a laborer to fix the window, and the laborer spends his money at the bar, where the bar keep takes her tip and spends at the bakery, the baker buys inventory from the shop keeper with the broken window. The local economist calculates that the boy created $2,000 in aggregate economic activity, and decides to nominate the rock throwing boy for an award for doing so much good for the village's economy.
This is the Federal spending in 2021. We all had broken windows in 2020, and now we all believe we are better off for having the reckless boy in our lives.
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