Just the Facts, Ma'am: A Compendium of Liberal Fiction Message Board

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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction

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From: TimF	10/30/2008 5:49:56 PM
	of 90947

"...there is diminishing support for institutions that generate wealth rather than redistribute it. Who still advocates small government, low taxes, private property, and the market process? It’s not a null, but surely a small, set of citizens—and few are among America’s opinion leaders and political decision makers. We elect those who promise us our share. This does not augur well for the survival of a wholesome America." - John A. Baden free-eco.org ...Another point I would make, related to the Juan Enriquez talk that I pointed to yesterday, is that we are acting as if we have a lot of fiscal slack. That is, all of a sudden everybody wants the government to provide bailouts and relief, and nobody cares about the deficits that might result. In Europe, my guess is that they do not have the slack. At some point, their welfare states may be unsustainable, and lenders may start to worry about that. Here at home, I wonder how state and local governments will sustain spending--see New York state. At some point, world investors may decide that U.S. Treasury securities are no longer the risk-free asset... econlog.econlib.org

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