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Tuesday, June 29, 2010

Riding it into the Ground

If you accept the Loony Left's assertion that the main reason for the mortgage meltdown and resulting economic collapse was greedy capitalist bankers and financial executives, the Community Reinvestment Act created by Jimmy Carter and his Congressional cohorts to pander to their permanent welfare constituencies must have slipped past unnoticed.  The Clintonistas greatly expanded the welfare housing hustle, and now, according to CNN and the Congressional Budget Office, we are on the hook for $400 billion with a potential public liability of one trillion dollars.

If we actually have to cough up a trillion for this failed entitlement policy and we add the one trillion for the failed porkulous giveaway, we will have squandered two trillion dollars.  Our national GDP is $14 trillion.  The costs of these boondoggles is one-seventh of our national economic output for a full year.  Add to that the $700 billion US Treasury TARP plan and the trillion dollar cost of providing health care for an additional 15% of people in  the US, and one should question both the wisdom of and motivation for such expenditures.

The US economy has been likened to a jumbo jet passenger air liner.  It takes a lot of force and time to change its course, but after it starts down it is difficult and time consuming to regain the original course.  The Corruptocrats, socialist-progressives, and mommy staters have used the current political situation to grasp the nation's economy by the throat.  Whatever their reason, whether it is greed, treachery, myopia, or all three, their policies and legislation are driving the country into the ground.  We are likely too far along the slippery slope of disintegration to recover.

Perhaps it is not just intentional sabotage.  Napoleon once observed that one should "never ascribe to malice that which can be adequately explained by incompetence."

May your gods be with you. 

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