O Ronald, where are you when we need you? You oh wise one who said that government isn't the answer to the problem, government is the problem.
Now America has a President-elect (he's not even President yet and already I want impeachment) who says that government will need to bail out everything under the sun. Tons of businesses are lining up to eat of the public trough. Even the porn industry and the abortion clinics. These are truly testing times.
The President-elect says that to not allow government to save American jobs will cause many others to be lost. Rubbish. The economy always fixes itself.
Think of the consequences of government mortgaging a further trillion dollars a year every year. Can mortgage undo mortgage? Just because it's the government borrowing doesn't mean it has unlimited resources to do so. How much of America's budget goes to debt servicing? I'm willing to bet it's around 20% or higher before the Obama plan will kick in. Think of the further consequences of government centrally planning the economy. How can bureaucrats run companies like AIG? Governments don't concern themselves with profits and efficiencies. That's why the market allocates resources. The market knows what's cheap and what's expensive. It adapts to peoples' affordability and demands. Command economy was tried in the Soviet Union. It didn't work there. And Ronald Reagan knew that.
Government bailouts are simply attempts at a command economy. It won't be a short-term fix. It will be a long-term nightmare. I say let companies be bankrupt. New ones will rise up. If some people need to be unemployed, they will find new work. There's always plenty of work to go around. The American economy is diverse and it's vibrant. To not allow it to fix itself will cause further damage than the massive bailouts are meant to fix.
Reaganites it's time to stop the tide of big government coming down the pipes. Obama and the Democrats want to spook everyone into thinking that only government aid will save jobs and the economy itself. Last time big bailouts took place, it was the New Deal and that hurt America in the long run. Stop them while you can. Harp on the ability of American entrepreneurship and ingenuity. Stop the flow of big government.
The Gipper is watching and he doesn't like what he sees.
1 comment:
You are absolutely right. The economy can fix itself...and it always does. I was listening to Ron Paul today (probably one of the only times we agree :P) and he's got it right. We've got to hurt for a little while, but in the end it will pay off. But as Obama already admitted, he thinks that government is the cure all for everything and the American people are just not sophisticated enough to understand that quick fix is not always the best fix.
Post a Comment