Posted on 10/01/2008 2:02:51 PM PDT by posterchild
Treasury Secretary Henry Paulson's massive financial bailout may be the beginning of an era of government expansion.
If Congress passes the $700 billion plan, the odds increase of greater government involvement across the economy, experts say.
"The shutting down of government involvement and the market knows best that era is over," said Lawrence Mishel, president of the pro-union Economic Policy Institute. "Market fundamentalism is taking a beating in policy circles and the public mind."
The free market appears to have a dearth of defenders. "Not enough Republicans are making the argument for free markets," lamented Sen. Jim DeMint, R-S.C. "There is no discussion of pro-growth solutions like cutting the corporate income tax and capital gains tax and fixing Sarbanes-Oxley."
Actually, House Republicans are balking at the Paulson plan. They have proposed that the federal government insure mortgages but require loan holders to pay the premiums. They also want deregulation and tax cuts to spur private capital.
Yet big government boosters see the crisis as an opportunity.
Sen. Bernie Sanders, I-Vt., claimed, "This can bring about a turn toward a new era. If we have the money to bail out Wall Street, we can provide funding for health care, childhood poverty, infrastructure and sustainable energy."
Some observers say we may already be in such an era.
(Excerpt) Read more at investors.com ...
I guess we’ll find out. This mess just infuriates me. I’ve had to shut the TV off twice today - both times 0bama speaking. I get so angry listening to his bull.
Look at the statistics. There’s a new era of big government every election year.
Or how much more will eventually, sooner rather than later, be thrown in after it.
The world financial system
Once we tinker with it and break it for good- we bought it
Do you have a job skill workng with your hands? That may become valuable
Used to be pretty good at fixing cars, but not the new ones. I'm also a fair shot, with handgun and rifle. That might be worth more in the short term anyway. Although my shotgun wingshooting skills have gone all to cr@p, and I never was that good to begin with. Guess I'll have to eat deer and rabbit, rather than quail or pheasants. Oh well around here, you'd be more likely to be able to shoot a Turkey vulture than a pheasant or a quail. Plenty of rabbit and some squirrel though.
Bernie, Bernie, Bernie.. we don't *have* the money. We'll be borrowing it, probably at premium rates (for the lender), and probably from the Chinese and Saudis. My Grandchildren, and probably their children as well, will likely still be paying the interest when they are old and gray, like me.
Gunpoint, torches and pitchforks, tar and feathers.
All of these were once employed with regularity.
It needs to sooner rather than later, else we are handing our grandchildren a bum world.
I think he means bigger gov't.
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