Diary

There you go again, Bob Gibbs/Obama

citing those “failed (goverment) policies of the past eight years” as to why we must act hastily in passingfalling for the destimulus bill.

Would you care to elaborate as to what those failed government policies were??

Was not the housing sector at ground zero of the economic slow down? Yes or no.

Did the US massively overallocate debt-financed resources into the housing sector? Yes or no?

Did the US government, in its infinite wisdom, not contribute mightily to that overallocation via the government backed subsidies of Fannie Mae/Freddie Mac, Fed liquidity (Greenspan), and the CRA? Yes or no?

Did the Democrats not vigorously defend the size and the wisdom of the Fannie Mae/Freddie Mac operations and subsidies in 2005? Yes or no?

If we’re suffering from the consequences of a government-aided and abetted misallocation of resources today, should we expect that another $1 trillion of governement directed resource allocations to have a different outcome this time? Yes or no.

Is not the stimulus bill in fact a continuation of misguided goverment allocation of resources? Yes or no.

Thank you for playing.