MR. Thumbs Up
New Member
- Joined
- Nov 12, 2010
- Messages
- 8
- Reaction score
- 0
- Points
- 1
it? Is it because it is just for the vote. If they did away with it, they would have no more "ONE ISSUE" voters. who would poor people vote for then, would they vote for tax cuts on the rich, and increase on the poor. larger government, or that "Conservative" BS they always preach.
Under Bush and a Republican Congress we had an explosion of growth on all fronts: spending that put Lyndon Johnson to shame, huge deficits and a doubling of the national debt, corporate bailouts, further centralization of education, protectionism, expansion of Medicare, increased regulation, undeclared wars, civil-liberties violations and other unchecked executive power, and more. Bush did not veto a single spending bill in eight years. His cutting of tax rates in 2001 and 2003 has to be judged in the context of growing spending. Milton Friedman pointed out that the level of spending, not taxation, is the truer gauge of the government burden. The money has to come from somewhere. Removing it from the economy through borrowing is as economically damaging as taxation — more so when you figure that the government will perpetrate inflation to manage the debt.
That was bad enough, but the Republicans added rank hypocrisy to the mix by claiming to favor free markets.
In light of this, Boehner’s remark is more than a little absurd. It’s dishonest, even demagogic.
And it will have consequences beyond the moment. Advocates of government control of the economy have a stake in persuading the public that the current financial turmoil is mostly the result of the Bush administration’s alleged laissez-faire approach to governing. This is an outrageous lie. There was no laissez faire — quite the contrary. The Federal Register, which catalogues new regulations, grew apace in the Bush years. The last banking deregulation of any significance — repeal of the New Deal’s separation of investment and commercial banking — was signed by Clinton while Larry Summers was Treasury secretary. Summers today is Obama’s top economic advisor.
Boehner’s statement, however, sounds as though he accepts the charge that our troubles come from too little government, not too much, in the Bush years. As a result, his words have the effect of making free-market, small-government rhetoric sound incredible, even ridiculous. Anyone who believes Boehner’s (false) story would have to reject his opposition to Obama’s program as purely political. After all, if big government really disappeared from 2001 to 2009, it can’t be blamed for the economic meltdown.
But it didn’t disappear, and it can be blamed for the meltdown. The Republicans’ cynicism and lack of principle are as responsible for what’s going on as any Democrat’s — even more, because they have undermined sound economic reasoning by their hypocrisy.
Under Bush and a Republican Congress we had an explosion of growth on all fronts: spending that put Lyndon Johnson to shame, huge deficits and a doubling of the national debt, corporate bailouts, further centralization of education, protectionism, expansion of Medicare, increased regulation, undeclared wars, civil-liberties violations and other unchecked executive power, and more. Bush did not veto a single spending bill in eight years. His cutting of tax rates in 2001 and 2003 has to be judged in the context of growing spending. Milton Friedman pointed out that the level of spending, not taxation, is the truer gauge of the government burden. The money has to come from somewhere. Removing it from the economy through borrowing is as economically damaging as taxation — more so when you figure that the government will perpetrate inflation to manage the debt.
That was bad enough, but the Republicans added rank hypocrisy to the mix by claiming to favor free markets.
In light of this, Boehner’s remark is more than a little absurd. It’s dishonest, even demagogic.
And it will have consequences beyond the moment. Advocates of government control of the economy have a stake in persuading the public that the current financial turmoil is mostly the result of the Bush administration’s alleged laissez-faire approach to governing. This is an outrageous lie. There was no laissez faire — quite the contrary. The Federal Register, which catalogues new regulations, grew apace in the Bush years. The last banking deregulation of any significance — repeal of the New Deal’s separation of investment and commercial banking — was signed by Clinton while Larry Summers was Treasury secretary. Summers today is Obama’s top economic advisor.
Boehner’s statement, however, sounds as though he accepts the charge that our troubles come from too little government, not too much, in the Bush years. As a result, his words have the effect of making free-market, small-government rhetoric sound incredible, even ridiculous. Anyone who believes Boehner’s (false) story would have to reject his opposition to Obama’s program as purely political. After all, if big government really disappeared from 2001 to 2009, it can’t be blamed for the economic meltdown.
But it didn’t disappear, and it can be blamed for the meltdown. The Republicans’ cynicism and lack of principle are as responsible for what’s going on as any Democrat’s — even more, because they have undermined sound economic reasoning by their hypocrisy.