Wednesday, September 24, 2008

The Problems with Fast Bailouts

I'm not a fan of bailouts, but I'm really not a fan of rushed bailouts. I've never been a real fan of Newt Gingrich, but his article Before D.C. Gets Our Money, It Owes Us Some Answers is spot on. The legislative branch should slow its roll.

A ton of people are writing about this, so I'll keep this short.
  • The US Government's Legislative branch is supposed to be a deliberative body. Fast action is not their forte. I'm afraid of any solution they come up with in 7 days.
  • This turn towards socialism is disturbing.
  • As I've said before, I think that the free market system depends on bad ideas being punished. When the government steps in, many people will not feel the sting as badly as they should.
For some good reading on this topic, check out:
George Will: here and here
Dana Milbank: here and here
William Kristol: here

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