Peter Schiff: The more the government spends, the bigger the job losses

Peter Schiff, candidate for US Senate in Connecticut, recently spoke to a gathering of about 70 students at Yale. His speech focused mainly on economic topics. During the speech, Schiff bluntly remarked that Obama's "stimulus" policies may in fact be having the exact reverse effect.

From the Yale Daily News "Republican Senate longshot talks economy":

Likening the Federal Reserve’s behavior and the federal stimulus package plans to drugs meant to mask the pain of recession, Schiff warned that the economy could soon go through even more painful withdrawals.

“The government pretends to have a magic elixir that makes the pain go away,” said Schiff, a self-described Republican with libertarian sympathies.

“Jobs aren’t created because the government passed bills,” he said. “They are lost when the government passes bills. The economy is getting starved for capital because the government is spending so much.”

According to the latest polls, Schiff is currently running behind frontrunners Rob Simmons and Linda McMahon for the GOP nomination.

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