5stringJeff
12-06-2008, 05:48 PM
The bailout is the absolute worst economic/fiscal policy since the Great Society, or possibly the New Deal. It will keep the current recession going longer, as John Stossel explains (http://townhall.com/columnists/JohnStossel/2008/12/03/government_sets_us_up_for_the_next_bust?page=full) :
If an athlete injures himself and suffers great pain, we'd recognize the shortsightedness of giving him painkillers to keep him going. The pain might be masked, but at the risk of greater injury later.
That's a good analogy for the inflationary policies now pursued by Washington. These policies may temporarily "stimulate the economy," but they also disguise and aggravate the underlying problems. We will all pay a serious price.
And, check out this graphic, made back when the bailout was "only" $4.6 trillion:
http://libertymaven.com/wp-content/uploads/bailout_money.gif
If an athlete injures himself and suffers great pain, we'd recognize the shortsightedness of giving him painkillers to keep him going. The pain might be masked, but at the risk of greater injury later.
That's a good analogy for the inflationary policies now pursued by Washington. These policies may temporarily "stimulate the economy," but they also disguise and aggravate the underlying problems. We will all pay a serious price.
And, check out this graphic, made back when the bailout was "only" $4.6 trillion:
http://libertymaven.com/wp-content/uploads/bailout_money.gif