"No country upon earth ever had it more in its power to attain these blessings than United America. Wondrously strange, then, and much to be regretted indeed would it be, were we to neglect the means and to depart from the road which Providence has pointed us to so plainly; I cannot believe it will ever come to pass." —George Washington, letter to Benjamin Lincoln, June 29, 1788
George Washington never thought our country would depart from the path of freedom and journey on the socialist road... but here we are ...
"What we are watching is Carter-esque interference with the economy. President Bush's handling of this economic debacle will go down as the biggest black mark on his legacy. While supposedly touting the importance of capitalism, Bush has embraced the same Keynesian solutions that trashed the economy during the 1930s and 1970s. And both Republicans and Democrats go right along with him, psychotically citing the Great Depression while ignoring the basic fact that Presidents Herbert Hoover and Franklin Delano Roosevelt's tinkering made a depression into the Great Depression. The bailout is a disaster." --columnist Ben Shapiro
"Yes, letting GM go into bankruptcy would be scary. But a GM bailout merely kicks GM's problems down the road while spreading the fear about where Uncle Sam's big feet will land next. Besides, bankruptcy isn't the end of the world. It's the means by which bad companies restructure to fix themselves. Bailouts are the means by which governments subsidize bad companies." --National Review editor Jonah Goldberg
"Democrats are suggesting, however, an even more ambitious reason to nationalize [the auto industry]. Once the government owns Detroit, it can remake it. The euphemism here is 'retool' Detroit to make cars for the coming green economy. Liberals have always wanted the auto companies to produce the kind of cars they insist everyone should drive: small, light, green and cute. Now they will have the power to do it. In World War II, government had the auto companies turning out tanks. Now they would be made to turn out hybrids. The difference is that, in the middle of a world war, tanks have a buyer. Will hybrids? One of the reasons Detroit is in such difficulty is that consumers have been resisting the smaller, less powerful, less safe cars forced on the industry by fuel-efficiency mandates. Now Detroit would be forced to make even more of them. If you think we have economic troubles today, consider the effects of nationalizing an industry of this size, but now run by bureaucrats issuing production quotas to fit five-year plans to meet politically mandated fuel-efficiency standards -- to lift us to the sunny uplands of the coming green utopia." --columnist Charles Krauthammer
"Detroit is in nose dive, no doubt about that. So is a $50 billion government bailout the answer? President-elect Barack Obama thinks so, and House Speaker Nancy Pelosi points in the same direction with her call for extending 'emergency and limited financial assistance' under the $700 billion bailout plan enacted last month. Democrats clearly want something big and something soon for the Big Three. We agree that the automakers can't go on much longer burning cash and piling up an Everest of debt. They're close to the breaking point. But there's a system in place for dealing with crises such as this, even at the scale of massive corporations. It's called bankruptcy, and it should not be written off as unthinkable. Filing for Chapter 11 protection under bankruptcy law is the normal way a company stays in business when facing an unmanageable financial situation. It keeps creditors at bay while the company reorganizes under court supervision and settles its debts. In recent years it has served as a refuge for major airlines (Delta and United) which, you may notice, continued to fly while in Chapter 11 and, post-bankruptcy, fly today. Bankruptcy protection also frees companies from union contracts. Could this be why it seems to have been taken off the table as an option, at least among Democrats? We can only surmise, but it's clear that a bankruptcy process would be rough going for the United Auto Workers." --Investor's Business Daily
"As usual, government's stumbling, bureaucratic 'solutions' exacerbate problems that free people, allowed to pursue their own self-interest, would address on their own. We'd still suffer some tough times -- it's painful when bubbles pop -- but recovery comes sooner when businesses must quickly fix their own mistakes -- or die." --John Stossel, co-anchor of ABC News' "20/20"
"Part of the problem is that we have enjoyed such unparalleled freedoms and prosperity that we have been lulled into the false notion that they will continue in perpetuity, even as we betray, to ever-greater extremes, our founding principles. But traditionalists understand that there is a tipping point beyond which this incessant socialist piggybacking on our capitalistic economic system and these ever-deepening encroachments on our scheme of government (for example, through judicial activism) will finally bring us to our knees." --columnist David Limbaugh
"I was always taught when growing up that when you reward bad behavior all you get is more bad behavior. From the mortgage meltdown to the automaker debacle to cities and states going under, it's all bad behavior. It should not be rewarded. The problem here is that our culture of debt -- both personal and corporate -- has created a culture of dependency. Everyone is calling out to our central government to give them money. And horrors of horrors, many are willing to let the federal government take ownership stakes in these entities and have a hand in their management. That is the road to socialism. The first step to ending the culture of dependency is to tell these corporations, cities and states they need to start taking responsibility for their actions by dealing with the consequences they have created for themselves. If not, then we could accumulate a national debt that even our grandchildren will never pay off." --columnist and former Mayor of Cincinnati Ken Blackwell
"Every time that we try to lift a problem from our own shoulders, and shift that problem to the hands of the government, to the same extent we are sacrificing the liberties of our people." --John F. Kennedy
tip from PatriotPost.com
Newt explains: "Crony capitalism is when government controls significant parts of the economy. Under this kind of bureaucratic micromanagement, politicians - not the free market - call the shots. And that means that the decisions that control the economy are of necessity political decisions, not economic ones.
Crony capitalism is bad for government. Economic power in the hands of politicians breeds corruption.
Crony capitalism is bad for democracy. Individuals and businesses outside favored industries have an unequal voice in self-government.
Crony capitalism is bad for business. Politicians wedded to the status quo stifle growth and innovation.
And there's one more thing about crony capitalism: It's come to America." excerpts from: http://www.humanevents.com/article.php?id=29544
More information below:
A Letter to the Editor
6 years ago