Thursday, October 9, 2008

Bailout Bust

Well, it looks like our good friends in Washington have managed to once again take a bad idea and make it much worse. I admit that the bailout bill was probably necessary, and that after having looked at the actual details of the plan, the charges of socialism are a wee bit exagerated. The populist rhetoric about taking money from the taxpayers and giving it to the Wall Street fat-cats is not exactly true.

The plan was necessary to avoid a total collapse of our financial system, or so we were told, and I was okay with it in the end. I didn't like it, but would rather be able to cash my paycheck next week, even if it meant moving wildly to the brink of socialism. Unfortunately, congress couldn't even get that right. From what a lot of folks are now saying, the bill has been passed too late to have its full effect. If that's true, we've just flushed $700 billion down the toilet, and will suffer anyway.

The biggest issue with all of this, however, is that we need leadership in place which will take us back from the edge of socialist policy once this crisis is over. I believe it was necessary for the government to step in and help avert a disaster, but the government must be made to step back once all of this blows over. Folks are now talking about the Fed nationalizing the major financial institutions in the U.S. If this happens, things are even more critical.

Barack Obama is not a free market kind of guy. His instinct is to use government to solve everyone's problems, and he cannot be trusted to lead our nation back to its proven system of captitalism. Combine that with the fact that he plans to increase government spending in virtually every area (besides defense), and this crisis will look like a tea party after 4 to 8 years of his leadership.

Do we really want to put a glorified political activist, with the arrogance and common sense of a college professor, in charge of all of this? Seriously?

No comments: