The Savior Based Economy
SC Governor Mark Sanford — who is one of the rising stars in the Republican Party — gets it exactly right on the stimulus,
A problem that was created by building up of too much debt will not be solved with yet more debt,” Gov. Mark Sanford said Sunday, making a reference to the federal deficit spending that will likely finance the federal stimulus package.
“We’re moving precipitously close to what I would call a savior-based economy,” Sanford also said Sunday on CNN’s State of the Union.
The South Carolina Republican said such an economy is “what you see in Russia or Venezuela or Zimbabwe or places like that where it matters not how good your product is to the consumer but what your political connection is to those in power.”
“That is quite different than a market-based economy where some rise and some fall but there’s a consequence to making a stupid decision,” Sanford said after pointing to the powers granted to the Treasury Department and the Federal Reserve to help deal with the current economic crisis.
“A lot of people who’ve made some very stupid decisions are being bailed out by the population at large,” he added.
Instead of bailing out failing companies, Sanford told CNN’s John King that the government should let the economy work through the current challenges without intervention.
“We’re going to go through a process of deleveraging,” Sanford said. “And it will be painful. The question is: Do we apply a bunch of different band aids that lengthen and prolong this pain or do we take the band aid off? I believe very strongly: let’s get this thing over with, let’s not drag it on.”
It’s just like P.J. O’Rourke wrote,
“When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.”
We’re seeing that on display today in Washington where Democratic politicians are selling our children into indentured servitude in order to funnel hundreds of billions of dollars to the special interest groups that support their party. It’s corruption on a scale never-before-seen in human history and it’s perfectly legal. Welcome to the world’s newest Banana Republic: the United States of America.
Hat tip to Say Anything for the “savior” except.