America, You Asked For It!

Political News and Commentary from the Right

Must we destroy our capitalist system to save it?

“It became necessary to destroy the town in order to save it”–unnamed Major in the US armed forces on the destruction of the Vietnamese village of Ben Tre.

This is the quote that comes to mind when I read stories like this, where President Bush explains the necessity of the bailout because bankruptcy of the auto companies would be bad for the economy.  Let’s destroy our economic system in order to save it.

Think about this…How many problems have you ever known government to truly fix?  Because to me, it seems any problem the government gets involved in gets worse after its “fixed.” 

A friend of ours was only sporadically getting her child support before there was a Child Support Enforcement Agency.  After this agency came on line to solve the problem, she only sporadically got her child support but had to pay a fee to CSE for collecting it!  The government considered the problem fixed, she received less money and had to deal with an extra layer of bureaucracy to get it.

There’a a great article by Robert P. Murphy on The Center of the American Experiment that explains how the government has created this financial crisis and it’s attempts to “fix it” are only going to make things worse.  It was pressure by government officials that coerced banks to lend to applicants with poor credit histories.  Now those same officials are attempting to absolve themselves of blame by citing “predatory lending practices” as the cause. 

This article by John Gibson of Fox News states the top 3 Senators receiving lobbyists’ money from Freddie Mac and Fannie Mae were Democrats, with Obama holding the #2 honor.  The article also points out the head of Fannie Mae through all of this mess was none other than Franklin Raines, former Budget Director under President Bill Clinton.  Again, government created this mess.

So now we have President Bush insisting that we must let government “fix” this problem and it seems he’s perfectly willing to march us down the road to Socialism to do it.  I expected such from Democrats–they’ve been trying to drag us down that path for decades.  But from Bush?

The only thing I can think of to explain it is that he’s willing to do anything to keep his legacy from being defined by the current financial crisis.  In order to avoid it, he’s apparently willing to disembowel our capitalist system and replace it with Socialism.  Will this fix the problem?  I don’t believe it will.

President Ronald Reagan said, “Government is not a solution to our problem, government is the problem.”

He was right!

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December 15, 2008 - Posted by | Bailout | , , , , , , ,

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