Consistently, 60% or more of Americans have opposed the ongoing federal takeover of the domestic automobile industry. And for good reason, too, beyond the crazy economics of throwing good taxpayer money after bad private failure. TARP money was expressly earmarked by Congress for financial institutions, not auto (or any other kind of) manufacturers, which makes the Detroit bailout not only imprudent but illegal.
Financial industry bailouts, too, have been widely reviled. This past week Michael Moore released the trailer for his upcoming agitprop documentary “Capitalism: A Love Story,” and it’s filled with outrage at the fact that all us working shlubs are, without being asked for permission, shoveling over our hard-earned cash to a bunch of fat-cat Wall Street execs who made bad bets and lost. “Where’s our money?” the fat man asks. For a change, he’s right.
This isn’t about liberal or conservative, Democrat or Republican. A majority oppose Obama’s policies because they fly in the face of this country’s bedrock values of personal liberty and limited government. Robbing Peter to pay Goldman Sachs does violence to that fundamentally American ethos.
And increasingly, Obama administration policy does violence to European values, as well. The continent has for the last two decades been systematically disengaging national governments from domestic industries. Top officials from Sweden, of all places, complained about Washington’s auto bailout, tersely announcing that “The Swedish state is not prepared to own car factories.”
Matt Welch, “The Real Reason Americans Are Angry: It’s the Big Government, Stupid”, New York Post, 2009-08-23
August 24, 2009
QotD: The real reason Americans are angry
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