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Sunday, February 14, 2010

Info Post

George Will shines his spotlight on the greatest danger facing our country.

"For congressional Democrats, however, expanding dependency on government is an end in itself. They began the Obama administration by expanding the State Children's Health Insurance Program. It was created for children of the working poor but the expansion made millions of middle-class children eligible -- some in households earning $125,000. The aim was to swell the number of people who grow up assuming that dependency on government health care is normal.

Many Democrats favor -- as Barack Obama did in 2003 -- a "single-payer" health insurance system, which means universal dependency on government. The "public option" insurance proposal was to be a step toward that. So was the proposed "alternative" of making 55- to 64-year-olds eligible for Medicare. Both of these dependency multipliers will be revived.

As will the Democrats' drive for "cramdown" legislation that would empower government (courts) to shred mortgage contracts, thereby making borrowers eager to embrace dependency on judges. Soon, the two most important financial decisions most families make -- to get a mortgage and a college tuition loan -- will almost always be transactions with the government.

The government used TARP funds not for their stipulated purpose of buying the "toxic assets" of banks, but to pull auto companies and other economic entities into the spreading web of dependency. Servile -- because dependent -- banks were pliable during the farce of Chrysler's bankruptcy, but secured creditors resisted when settled law was disregarded. Nevertheless, those creditors received less per dollar than did an unsecured creditor, the United Auto Workers, which relishes dependency on government as an alternative to economic realism."

Read the rest of it at Real Clear Politics.

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