The death of fiscal conservatism

Michelle Malkin is spot on in eulogizing fiscal conservatism. What did we expect when the Democrats nominated an interventionist and we nominated “interventionist light”? There is no debate about whether or not the Federal government should be intervening in the economy only about to what degree it should.
That’s very unhealthy in my opinion and creates a moral hazard going forward. There’s no more incentive for corporate America to do the right thing. If you get big enough by doing the wrong thing the government will bail you out whether it’s Bush, McCain or Obama in the White House.
My parents came to this country to flee an overreaching central government that nationalized everything. Where will my kids flee to?

4 thoughts on “The death of fiscal conservatism”

  1. You are so harshly correct. Where will our children flee to?
    More and more we see the failures of our government. Tonight I’m very upset at the GOP. I’m upset at this nations lack of responsibility. Let’s hope President Bush veto the new “Stimulus” plan Pelosi has in mind and might actually pass in the house then senate. We simply can not afford this!
    God bless America…

  2. I don’t like the intervention however I understand why it had to be done. The meltdown had five components;
    – a corrupt Congress and Clinton-adminstration which for two decades forced banks to loan mortgage money to people unqualified to pay back the loan,
    -overleveraged homeowners who treated their homes as a bank rather than a home,
    -financial investment industry acting as banks without any banking regulations ie using the mortgage money to loan at 1 to 30 ratio to forth and fifth parties to purchase money-market investments.
    -The fourth and fifth parties are the investments made into things like mutual funds and pretty much every American is invested (either in pensions or personal) in that money-market.
    It was the fourth and fifth parties which, if had fallen, would have brought about a depression greater than the Great Depression.
    Like I said, I don’t like government intervention however in this case it had to be done, now let us hope the market can clear out all the worthless paper.
    As for correcting the intervention, my suggestion would be for federal government to reduce taxation even further, most importantly the capital gains tax. Our capitalist economy needs the money to flow everywhere not stashed away just for Dodd, Obama, Clinton, Kerry and the rest of the Democrat kleptocrats who want to pay for thie social engineering programs.
    The private sector, ie corporations, banks and investment industry did exactly what they do best, make profits. Can’t blame Capitalists for being Capitalists.
    The problem was that the social engineers in government (ie socialist Democrat Party) needed funds so they seized upon the private sector to finance the socialist’s engineering projects and Freddie Mac and Franny Mae was just such venue to the tune of 1.5 trillion is stolen property.
    At least ACORN won’t be receiving anymore Fanny money.

  3. We’re never going to get out from under the mountain of new regulation that will be born out of this crisis. The beginning of the end of the American economy.

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