Axis of Right

Three Native Rhode Islanders Commenting From the Right on Politics and Anything Else

An Education: Democrats on the Economy

Posted by Ryan on March 27, 2008

We’ve finally learned something (on the record for a change) about Democrat’s vision for the today’s ailing economy!  Here’s a sample of Obama’s take on what he to do in tough economic times:

“To renew our economy — and to ensure that we are not doomed to repeat a cycle of bubble and bust again and again — we need to address not only the immediate crisis in the housing market; we also need to create a 21st century regulatory framework, and pursue a bold opportunity agenda for the American people….  We do American business — and the American people — no favors when we turn a blind eye to excessive leverage and dangerous risks….  If we can extend a hand to banks on Wall Street, we can extend a hand to Americans who are struggling.”

OK, let me get this straight:  Regulation.  Government handouts.  Ending the Business Cycle.

Been there, done that.

  • One of the things we learned from the 1970s (before Obama met Reverend Wright and while She Who Must Not Be Named was still wearing those dorky glasses) is that the more regulation the government imposes the less economic activity takes place from those targeted companies/industries, which will destroy job growth and diversification. 
  • Plus, government hand-outs to the “struggling” might be good mid-20th Century populist/class-warfare politics, but we’ve seen the abject failure of wealth redistribution in our own country: “War on Poverty” anyone?  
  • Back in the 1990s people were also talking about the end of the business cycle.  I don’t want an end to the business cycle because, quite simply, that means the end of capitalism.  Bad companies must be made to account, bad behaviors by consumers must be stymied by market realities, and bad investments must be punished if an economy is to learn and grow in the fastest and most natural way. 

So, what did I learn about the Democrat candidates and the economy today? 

Same old populist-socialist dribble that won’t fix anything but would continue the cycle of dependency.  But that’s what I expected them to say.  The bigger question to ask is:

Will John McCain take advantage of these scary policy positions that his opponents are putting forward on the record? 

One hopes.

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