By Bradley Harrington
“There is a decisive difference between the loans supplied by private lenders and the loans supplied by a government agency. Each private lender risks his own funds.” — Henry Hazlitt, “Economics in One Lesson,” 1946 —
In times of economic downturns, sensible people watch their financial expenditures even closer than usual, making doubly sure everything they purchase provides a benefit worth the money they’re spending.
That’s a jewel of wisdom, however, that never made it into Wyoming state government memos: