YOU Want the Economy To Fail!
Yes YOU, if you opposed the auto maker bailout, want the economy to fail. YOU are a reckless ideologue. YOU don’t want to solve problems. YOU want the US to suck up a Depression. YOU are extraordinarily irresponsible.
So says Harry Reid and the Left side of the blogosphere. If you want fiscal responsibility out of our government, you’re irresponsible.
And in January, this line of thinking will hold even more sway in Washington, DC. Hold on to your wallets, ladies and gentlemen. It’s going to be a bumpy ride.
Filed under: Democrats • Economics • Government • Liberal • Politics
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Well, a bailout COULD work but under conditions which are not likely to happen with the populist democrats.
Let me put it this way. Let the automakers fail. Britain suffered this shock therapy in the 1980s – it actually freed the economy to start making wealth in the long run, we shut down loss-making industries based on unpopular or simply crap products, while shackled by recidivist unions.
The long term danger with the Democrats approach to the crisis is that they will spend all this money AND have nothing to show for it in two years when GM et al go bust and all those people lose their jobs. This has been coming for fifteen or more years. The SMART move would have been to have broken up GM etc ten years ago into smaller firms because the US autmakers are in effect a domestic monopoly: only the foreign car makers actually produce competatively.
I’m just worrying about the levels of government debt that will be building up on this and the tax increases required to fund it…
Thanks for the history lesson. I wasn’t aware of how the British handled this same situation. And amazingly enough, the sky didn’t fall. Thank you very much for your perspective.
Yes, Democrats are much too beholden to their union constituency to have a clear head about this.