Pyrrhic victories?

July 23, 2010 06:01

After nationalizing a big chunk of our healthcare, the Democrats have managed to redesign the financial sector in a hodgepodge of new rules concerning everything from my ATM card to the multi-billion dollar transactions of Warren Buffet on Wall Street. Sweet talks of “transparency” and “bipartisanship” were forgotten as the administration used all the dirty backstage tricks to push unilaterally on us their agenda for expanding government power over our economic decisions, all with promises of creating a healthier environment for sustainable growth of America’s businesses. But so far the private sector is not impressed, refusing to step up to the plate by order from Congress.

by Alex Tokarev at

After two years of tax rebates, big business bailouts, and “stimulus” spending, the American people are still waiting for some sign that their leaders are capable of using some common sense instead of blindly following the policy prescriptions of a defunct economic theory from the 1930s. Despite the successful enactments of thousands of pages of new bills, Barack Obama’s popularity has been washed away to a point that millions of those who stayed at home during the last presidential elections are feeling nostalgia for George W. Bush. While economists are still debating whether life fits the Keynesian model, the negligible impact of the current administration’s unprecedented fiscal expansion on the U.S. labor market has left three out of four Americans with serious doubts in the ability of government intervention to nurture the private sector back to health.


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