Review & Outlook: The Small Beer Bill - WSJ.com

Q&A: Review & Outlook: The Small Beer Bill - WSJ.com: "- Sent using Google Toolbar"

Question:
The eight years prior to Obama resulted in what? A strong healthy economy? or a disaster of epic proportions? Hopefully Obama will be rewarded by another six years to dig us out of the mess

Answer:

I fear you are very easily misled into buying into only big government.

You might consider that with the rise of China and the sudden emergence of very cheap labor, the old US union model of high school educated blue collar labor being able to enjoy a preponderance of the world's resources by a very small percentage of its population had come to an end.

This of course is something that the current administration just can't understand.

So Bush cut taxes and tried to get the economy to restart. To some extent he succeeded.

But, the Democrats and Barney Frank in particular was continuing with the idea of expanded entitlements so he pushed for lower to no loan standards - and furthered this goal by empowering Fannie Mae and Freddie Mac with unprecedented support. We all saw the housing bubble that resulted.

However, neither party has had the guts to try and tell middle America that all the entitlements they've grown accustomed to an large government is unaffordable.

Thus, you have to ask yourself whether more entitlements, more transfer of wealth to government to handout for free or whether greater rewards for investment into new technologies would more likely create jobs and good-paying jobs?

All one has to do is look around at states and countries that let government get to big to see what happens. And, if you support big government you obviously are in favor of high unemployment and reduced living standards.

But, I really don't think you have the right to impose that view on the rest of society! Do you?