Fiscal Suicide: It’s All My Fault
The new Democrat plan to sell the crap sandwich all the girlies like to call the Great Fiscal Suicide Act of 2009 (aka “stimulus“) is to blame Republicans while the media drools over how mad bi-partisan President Obama is doing. Though, a word for advice for the Obama administration, don’t sent Larry Summers to do it. He looked like he had to convince himself of what he was saying, especially when the Dems are doing the exact opposite of what he said stimulus should be.
One of the popular refrains from the original thinkers who follow in lockstep with every other progressive is that all of these problems were caused by the Bush Administration de-regulating anything they could get their hands on. Not to dissent (because in the Age of Obama, dissent is un-patriotic), but according to Barron’s we’re ALL TO BLAME for the mess we’re in.
As for that jive aboot de-regulation…
CONTRARY TO A VIEW POPULARIZED DURING THE 2008 presidential election season, the current economic crisis was not the result of deregulation. The Bush administration made many mistakes, but deregulation was not one of them.
Not only was there no major deregulation passed during the past eight years, but the Bush administration and a Republican Congress approved the most sweeping financial-market regulation in decades. Across the government, the Bush administration supported new regulations that added almost 1,000 pages a year to the Federal Register, nearly a record. If this is insufficient regulation, it’s hard to imagine a scope that would be effective.
Barron’s is a) knows a thing or two aboot finance, and b) isn’t what you would call “ideological.” The rest of the article focused on everything that went wrong recent and over the past thirty years that have gotten us to where we are. And according to them, everyone from the past few presidents, to a couple of Congress’s, to you and I needing to buy it right now regardless of whether or not we could afford it are all part of the problem.
You can’t fix a problem before you can admit or even acknowledge what that problem is, as is evident by the $1 TRILLION+ worth of social welfare the Democrats are trying to convinces us is “stimulus.”
Loins, girded.
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