07.01.2008 0

Big Governments Big Consequences

  • On: 07/20/2008 14:07:15
  • In: Economy
  • “For every action, there is an equal and opposite reaction” – Newton’s Third Law of Motion, 1687

    The Great Government Giveaway has now stretched its infectious tentacles across the nation, from the tiniest hamlet to the largest cities and the highest reaches of the federal government. As might be expected, much of the political debate in recent days rages around which panaceas and placebos can most easily be foisted on an unsuspecting public – the future be damned.

    This is reflected in the candidates’ proposals, in particularly the Democrats, as noted by the Charleston Post and Courier:

    “Hillary Clinton wants a five-year ‘freeze’ on existing adjustable-rate mortgages’ interest rates, a 90-day ‘timeout’ on foreclosures, an a $30 billion ‘emergency housing crisis fund.’

    “Barack Obama wants a $10 billion ‘foreclosure prevention fund’ and a $30 billion economic stimulus package.”

    Right. But, why stop there? After all:

    “In the Big Rock Candy Mountains, there’s a land that’s fair and bright,
    “The handouts grow on bushes and you sleep out every night
    “Where the boxcars all are empty and the sun shines every day
    “On the birds and the bees and the cigarette trees,
    “The lemonade springs where the bluebird sings
    “In the Big Rock Candy Mountains…”

    The problem, of course, is that there are no Big Rock Candy Mountains. And if there were, the view from them would be nothing more than the Slough of Despond.

    The fact is: you can’t get (or give) something for nothing, and Newton’s Third Law has not been repealed: To every action, there is an equal and opposite reaction – no matter how long it takes. Which is something that politicians, ever eager to pander and posture, are wont to blithely ignore.

    A good example, one that the Post and Courier points out to its readers, was President Nixon’s ill-conceived wage and price controls – which, they write, had “predictable consequences.” Those consequences included high unemployment, high interest rates, gas lines, and stagflation.

    Those problems, ironically, did not become apparent until President Carter was in office some years later (when he, of course, proceeded to make matters worse). But, nonetheless, they were as inevitable as night following day. And the consequences were as immutable as Mr. Newton’s Law.

    When government seeks to eliminate, or even mitigate, economic risk by tinkering with (or trampling) basic economic principles, the inevitable consequence – sooner or later –is the wholesale destruction of economic rewards.

    Sen. McCain, to his credit, seems to have a grasp of this essential economic tenet. Reports the Post and Courier:

    “John McCain wants to uphold ‘the principle that it is not the duty of government to bail out and reward those who act irresponsible, whether they are big banks or small borrowers’ … Finally, some straight talk.”

    The problem, of course, is that Mr. McCain stands alone, while his political opponents stand duplicitously astride the bow of a tottering Ship of State bellowing, “Full speed ahead!” And America stands to lose its economic stability for generations to come.

    Tragically, the coming fall from Big Rock Candy Mountains is one “equal and opposite reaction” millions of Americans can ill afford. And in this instance, the “Straight Talk Express” needs some no-nonsense support.

    If you agree with Senator McCain’s approach to this issue, he will need the support of your audience who value liberty and prosperity to prevail against the Big Rock Candy Mountains’ pandering politicians. Sen. McCain’s website address is: http://www.johnmccain.com.

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