No charts, graphs, and just plain English. New revised edition. How is wealth created? (Hint: not by government). The housing bust began the current melt down. Politicians created this by interferring and changing the rules (more home ownership, more affordable housing). Stimulus and bailouts in both the Bush and Obama administrations created boondoggles and didn't help the economy. Lending went down when money was given to banks. GM bailout? Bernanke's QE-2 (printing money)? What was he thinking? Bush tax cuts extension are an acknowledgement by Obama that his policies have failed--that cuts are superior to handing out money for stimulating the economy. All spending begins in the House--Clinton had a Republican Congress, so he can't take any credit for that era's tax policy or deficit reduction. 17% of GDP to health care. Americans chose much of that spending, so how can the government say it's wrong for us to have less waiting time, nicer hospitals, and more available drugs? We pay more and get more says Sowell--it's that simple. People buy what they want. If you're a Swede and you want more or better or faster, you can leave the country to get it, but you won't get it there. About 50% of our health care is already socialized--Medicare, Medicaid, S-CHIP--is this a good system or is there corruption and graft that could be reduced?
Watch the interview with Thomas Sowell.
Sunday, January 02, 2011
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1 comment:
Murray sez:
Thomas Sowell is usually right on the button. I read his column and always hope that many others do also. I listened to his interview and I must say, he's a much better writer than he is speaker.
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