Say, have I told you about my can’t-miss economic development plan for Vermont?
It’s called “The Vermont Open Redistribution of Resources Program (VORRP),” a.k.a. throwing money around. All you do is send state vehicles around Vermont, tossing handfuls of cash out the windows.
Just think. It cuts out all the bureaucracy and red tape that bedevil most government programs. It gets money into the hands of Vermonters as quickly as possible. And unlike many such programs, this one is tried and tested. The multiplier effect, a well-established idea in the world of economics, shows that when the government increases spending, it generates far more economic activity than the original investment.
Trust me. It works.
Well, it probably works at least as well as Vermont’s renowned worker grant programs. They reimburse relocation expenses to people who move to Vermont or move to economically distressed areas in Vermont. Their actual effect is completely unproven, as State Auditor Doug Hoffer has repeatedly shown.
And it remains unproven in spite of a relentlessly sunny study of the programs ordered by the Legislature and released on December 15 by the Department of Financial Regulation. VTDigger posted a story yesterday that reports the study’s findings and Hoffer’s criticism of them. (Which is remarkable in itself. Digger has a habit of ignoring Hoffer’s work.) From my point of view, not only is Hoffer right, but I thought he was a little too easy on the report.Continue reading