Friday, September 16

Milton Friedman opposes Referendum C in Colorado

Here is some hard expert testimony against Referendum C, which I thought was great. But, as many have come to expect from the mainstream media, the coverage by the Rocky Mountain News leaves a lot to be desired. Hat tip goes to Firestorm Strategies for pointing me to this story.
Milton Friedman, winner of the 1976 Nobel Prize in Economic Science opposes Referendum C. Friedman believes that Ref. C is bad for Colorado's economy. "I strongly urge the voters of Colorado to reject Referendum C, or any action that would suspend Colorado's Taxpayers Bill of Rights. I strongly favor the continued and uninterrupted use of TABOR, including it's so called ratchet mechanism. The ratchet is one of the best features of TABOR. It is the only thing that will reduce out-of-control government spending," the 93-year-old Friedman said.
When the environmental groups make a statement in favor of Referendum C, the Rocky Mountain News calls it "grim news."
A coalition of environmental groups Tuesday predicted grim news for Colorado's air, water and land if state voters turn down Referendums C and D in November.
But when Friedman makes a statement indicating the economic importance of TABOR, and supporting the so-called "ratchet effect"as the only effective way to control government spending, the Rocky Mountain News calls it "the PR machine."Evidently, they don't seem to believe there is any substance to his statements, or perhaps they doubt his credentials--a Noble Prize among other things.
Meanwhile, Ref C foes fired up their own PR machine Tuesday, announcing that noted conservative economist and Nobel laureate Milton Friedman had endorsed their cause.
So, what is it with the double standard? Is Friedman not considered credible enough as a scientist and economist to have "grim news" should TABOR be weakened by Referendum C? The Rocky Mountain News evidently does not think so. If the State is running out of money for the important things they should be doing, then that would be a clear sign that they need to cut back on the pork, and waste.

More importantly, though, the residents of the state of Colorado need to wake up, and catch up on their economics 101. People need better education on the proper role of government, it's real and proven limitations. Then, we can all work together to build a better Colorado through hard work, enterprise, and strong ethics--without depending on the government for every little thing.

Tags: , Politics, Media, Current Affairs.