Fiscal Responsibility

This speech, given by Daniel Hannan, a member of the European Parliament, on March 24, 2009, has been all over the news in pieces. Here is the speech in its entirety. In three and a half minutes, Hannan makes one of the clearest cases I have heard for fiscal restraint in the face of the overwhelming urge to throw money at the current financial crisis. His rhetoric rises above its British context- these are words that every world leader, every politician and secretary, should hear and heed. We can't spend our way out of a recession, only deeper into one.