August 7, 2010

Bailouts as Evidence of "Faith" in American People?

From The New York Times:

Against a backdrop of American-made cars, President Obama cast his Republican critics on Thursday as having lost faith in the American people [...]

"I wish they could see the pride you take in building these great cars, American-made cars. And my message to them is: Don't bet against the American worker; don't lose faith in the American people; don't lose faith in American industry. We are coming back."

That's wonderful but the opposition isn't losing faith in American industry of course, nor in the American people. It is losing faith in government's ability to "help" them both recover from economic hardship.

The president sadly confuses the very premise of government interference in private sector industry. That isn't a sign of "faith" in people's ability to control their own lives. To the contrary, it displays a blatant lack of faith in people's right to make their own choices. After all, if people always made the "right" choices in the eyes of policy makers, surely there'd be no need for bailouts and regulation in the first place?

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