[GingisK]

..."What Obama is missing is that government spending doesn't create jobs, it destroys jobs,"...

That depends entirely on how the government spends the money. The "Space Race" provided jobs at high wages for many engineers and scientists. That was very good for America.

[mosaicwolf]

True about the Space Race but how about gommint spending on the infamous war on poverty. How did that work out for you?

[tcrlaf]

“The “Space Race” provided jobs at high wages for many engineers and scientists. That was very good for America.”

Why is it that so many, even here on FR, don’t get the most basic of economic truths?

The Space Race created INNOVATION, it did not create wealth. In fact, it had a NEGATIVE effect on wealth creation, by taking capitalistic dollars out of the economy.

For every gub’ment job created, there is a burden that costs the private sector, THAT PAYS FOR IT, jobs.

Monetary valuation doesn’t grow on trees, no matter how much of it you print.