Posted on 01/30/2009 8:52:07 AM PST by davek70
It's been almost one year and $1.5 trillion since the government began its historic slate of financial bailouts -- and all we have to show for it is red ink dripping from our nation's balance sheet. Congress has been busy writing checks to everyone from Detroit automakers to Wall Street day traders. We're now nearing a historic $11 trillion debt. Each time Congress goes to the taxpayer ATM, it claims that this will be the bailout that gets the economy moving again. For instance, on the night the Senate passed the $700 billion Wall Street bailout, the Senate's finance chairman, Max Baucus, confidently declared: "I'm very proud of what we did. This is going to mark the time when we've turned the corner. And we will begin to see this financial crisis beginning to abate." But things got only worse. And despite the serious risks to our long-term stability, this failed strategy of big-government stimulus continues in full force. This week, in fact, President Obama and the Democratic Congress asked for another near-trillion in federal deficit spending. Their plan promises an agenda styled after the economic policies of the Great Depression -- government jobs programs, enormous infrastructure spending, huge amounts of pork and a slew of government handouts. But before we return to the 1930s, we may want to review a little history. The stock market collapse of 1929 brought a crashing halt to the Roaring Twenties. But President Herbert Hoover's response to the economic crisis ensured that it became a genuine catastrophe. Contrary to popular perception, Hoover did not respond to the downturn with inaction or indifference -- rather, he pursued a series of misguided big-government adventures that lengthened and deepened our economic woes.
(Excerpt) Read more at startribune.com ...
/mark
Wow...think...Palin as POTUS and either el-Rushbo, Tancredo, or Hunter as VP? Talk about a dream....first task at hand get the libs, socialists, anti-Americans and RINO's out of Congress pronto!!
I'd love to see all Congressional critters, POTUS and VP's, (before their primaries) and their staffs have to pass an 8 hr test (80% and above, anything lower, is an F) a test based upon the Magna Carter, Articles of the Confederation, The Federalists Papers, The Declaration of Independence, The US Constitution, writings of Adams (both), Madison, Henry, Payne, Franklin, Jefferson, Washington, etc......Both Jefferson and Adams died on July 4th, 1826. President James Monroe also died on July 4th, 1831. Maybe God wanting us to take notice of that day in particular?
Hoover made only one big mistake in not having the treasury print enough money at the rate of economic activity increasing like it did in Roaring Twenties....the CDO’s CDS’s, derivatives, liar loan mortgages, house flippin’, easy credit, scenario we have recently witness swell and bust, is very very similar to the same attitudes about money in the 20’s prior to Oct. 29, 1929.
Yes they are, ‘cause a wise man never threatens a woman’s children, nor her money.
That sounds a bit like “compassionate conservatism” IMO. In any event, competent conservatism and considerate conservatism do not have to be (and shouldn’t be) mutually exclusive.
Thanks for the ping.
These measures proved a dismal failure, and things got only worse. In the 1932 campaign, Franklin Roosevelt actually attacked Hoover for his big-government policies, decrying Hoover's presidency as "the greatest spending administration in peacetime in all of history."
Solid truthful research - if more newspapers ran stuff like this - rather than emotional garbage ("feelings") newspapers might survive...
Considerate conservatives consider everything with considerable care, then using commonsense, makes decisions based on traditional American, uncompromising, founding/constitutional principles!!!
They generally consider everything useless and irrelevant!!!
I think we are on the same page, but using different dictionaries! :-)
Compassionate CONservatives will say that is too judgemental. I say there really is a "right & wrong" as we no longer live in the Garden of Eden!!!
Yes, I agree with you whole heartedly!!!
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