Thursday, September 18, 2008

Scary words of today

John McCain speaking in Michigan:
"I'm here to send a message to Washington and Wall Street: We are not going to leave the workers here in Michigan hung out to dry while we give billions in taxpayer dollars to Wall Street. It is time to get our auto industry back on its feet. It's time for a new generation of cars and for loans to build the facilities that will make them."
Because in the midst of a financial crisis caused by bad loans, what we need most are more government loans to uncompetitive companies.  Auto manufacturers begging for a handout is sheer opportunism - they were failing long before the financial crisis got underway.

But the bailout wave is creating a new political strategy.  Now that the government is giving out billions, just promise billions and billions to everybody.

Are Americans smart enough to realize that government is not a money tree, and that promise billions for everybody could have worse consequences than what we're currently seeing?

McCain's policy grade: 2/10.  Pure pandering, and an economically disastrous policy.  The 2 points are only because this is my first post and so I thought I should be nice.

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