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Monday, September 22, 2008

Blame Bush: Fiscal Conservatism Is Dead

As we dash ever farther through the political looking glass, it has occurred to me that the trillion-plus the Bush Administration wants to pour into bailing out failing corporations is a green light for us liberals to argue that money is no longer an issue when it comes to funding social programs. If something is important enough—expanded unemployment benefits, more veterans benefits, heck, why not universal health care?—we can tackle it by sinking ourselves into all the debt we want. The Bush Administration, in abandoning its last best principles for socialism, has undermined its most practical argument against the good we liberals think we should be doing for our country.

But that's just me talking, and I know my well-educated readers won't fall for any groundless liberal propaganda. I thus turn to arch-conservative Michelle Malkin, who says the same thing:

this is a Republican White House presiding over the Mother of All Bailouts. Every step along the way since stimuluspalooza began last summer, we’ve heard that every bailout step was just a one-off. Each step was supposed to calm the markets. Each new government intervention and allocation of taxpayer dollars was supposed to achieve “stability.” Each new package of goodies rewarding irresponsible behavior and bad financial decisions was supposed to prevent new ones.

None did. And now, here we are.

This is your Bush legacy — not Pelosi’s, not Reid’s, not Obama’s: A ginormous bailout of every last, failing, panicked financial institution’s illiquid assets that may reach into the trillions — TRILLIONS – when all is said and done.

Reader John in Venice, CA e-mails: “Going forward there is no debate a conservative can win when pitted against a liberal wanting to spend money on social programs. What would the argument be against spending money on terrible social programs? Government money does not work? Conservatives who are supporting this welfare bailout are no different than Maxine Waters or Barbara Boxer. We have lost. Conservatism has absolutely no more moral high ground to speak from.”

Fiscal conservatism has been on life support for quite some time. Bush/Paulson pulled the plug permanently today [Michelle Malkin, "The Mother of All Bailouts = The Death of Fiscal Conservatism," MichelleMalkin.com, 2008.09.19].

Michelle Malkin and I agree. Welcome to the new world, comrade.

Expect bills to nationalize health care and the oil industry on the President's desk next March.


  1. I read that, Wade.

    This line made me giggle and cry all at the same time:

    "The average American is working two and half jobs, gets two weeks off, and has all the employment security of a one-armed trapeze artist."

    Further, this one is just plain scary: "In bailing out mortgage lenders Fannie Mae and Freddie Mac, our government has basically turned America into the largest subsidized housing project in the world."

  2. Yeah, the Fed, Congress, Social programs pushing unqualified loans to 'segregated minorities,' increasing minimum wage, continuing failed programs like social security and welfare...had NOTHING to do with it?! All of these programs and entities paying people who didn't earn anything.
    I thought the problem with capitalism was 'it hurts the working class by making money off of those who work?' Well, what are all of these programs, or government for that matter? Populism!

  3. A Scottish phiosopher once said that Democracy works until people realize they can vote themselves funds from the Treasury.

    If this isn't a huge slap in the face to fiscal conservatives, I don't know what is.

    Folks it's a simple formula... economic conservatism + respect for individual rights + accountability for both individuals and goverment = Libertarianism!

    The Reps and Dems are now officially cut from the same cloth... you want REAL change, go Libertarian!

  4. I was registered as a Libertarian when I lived in upstate Nevada. Maybe it's time to go back (to the Libertarian Party, that is).

  5. Give me Liberty(ism) or Give me Death! aka the republican and democrats! Viva the Libertarian Revoltuion. Bob Barr keeps looking better and better everyday.

    p.s. anonymous 11:15am are you another conservative in denial or just trying to pass the buck just like the republicrats or demolicans(democrats + rebublicans).

  6. Anon 11:15 - Would you be so kind as to share with us the names of some of those "social programs pushing unqualified loans to segregated minorities"? I'd like to get some more info on them.


  7. Blame it on Bush well guess what Bush warned Congress of this!

    August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, The White House, 8/9/07

    What party was in charge of Congress then??????

  8. Does this time line mean anything Cory?

    March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)

    April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)

  9. President Bush has called for reforming Fannie and Freddie 17 TIMES this year alone! The democrats' fingerprints are all over this crisis.
    Quote from Glenn Beck

    Want to read more Cory?


  10. Hey, Anon, I'm just repeating what I hear on conservative talk radio. You get Michelle Malkin and Glenn Beck on a conference call, have them hash it out. ;-)


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