Tuesday, January 06, 2009

Sowell on the bailout

Economist Thomas Sowell is a brilliant writer. I think he hits the nail on the head with his assessment of the real impact of the bailout program:
Regardless of what President Bush or Secretary of the Treasury Paulson may have had in mind when they promoted this huge bailout package, with all due respect to these gentlemen, what they had in mind will not matter in the slightest after January 20th.

All that money is just a gift to the Democrats to spend in whatever ways will advance the interests of their constituents and of the Democratic party.
Not only that, but when things go bad for the Democrats, they can just put the blame on Republicans who also supported the bailout! Sometimes I can't tell the difference between "moderate" Republicans and "moderate" Democrats. Read the entire article at NRO.

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