Friday, January 30, 2009

Crisis Or Opportunity?

If I didn't have serious misgivings about their competence I'd have to think that Democrats were motivated by malevolence. The US is suffering from an economic crisis- so they craft bill to spend a trillion dollars on pork and pet projects, all the while virtually ignoring the problem the bill is supposed to correct. Then, intent on repeating the mistakes of the past- mistakes that even I learned about in high school history class- they now want to create "buy American" policies.

As if the Democratic Porkfest Bill didn’t do enough damage on its own to the long-term prospects for the American economy, the Washington Post reports that it could set off a trade war that would bring the global economy crashing, too. Democratic protectionists loaded up the bill with “Buy American” clauses that shut out foreign producers of steel and iron. Just as in the Depression, however, that will force other nations to close their markets — which will virtually recreate the Smoot-Hawley fiasco that made the Depression exponentially worse.

Are they really this stupid? Or should we bear in mind the words of Obama's chief of staff, Rahm Emanuel-

"You never want a serious crisis to go to waste, and what I mean by that is an opportunity to do things that you didn't think you could do before."

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