Everybody Seeks to Live at the Expense of Everybody Else

These cautionary words of Frederic Bastiat, which adequately describe many economic fallacies, went running through my brain as I read that the Indiana House has approved a billion dollar stimulus bill of its own:

House Bill 1656, sponsored by Rep. Terri Austin, D-Anderson, would rely on $500 million from the trust fund created by the $3.8 billion lease of the Indiana Toll Road, plus $250 million from federal highway funds that the state has and $250 million from money the state expects to get from the federal stimulus.

The money would be divided among Indiana counties, cities and towns over the next two years. In addition, the bill would create a $20 million program to help local governments hire engineers and consultants to design projects, and would provide money for two-year, $6,000 grants so that out-of-work Hoosiers can return to college for job training.

The bill also would steer business to Indiana companies, requiring the use of Indiana steel and allowing agencies to spend 15 percent more in most cases in order to award contracts to Indiana companies instead of out-of-state firms with lower bids.

Moving your wallet from your pants pocket to your coat pocket will not make you wealthier. Especially if you have to burn money in the process of doing so.