Just a few more zeroes

A$1 trillion stimulus bill that many feel won't sufficiently stimulate. On top of as much as $2 trillion dedicated to the Trouble Assets Relief Program, or TARP.

To begin to grasp the enormity of what the Obama administration is proposing to spend, recall that his predecessor provoked a considerable backlash in the fall of 2003 by requesting a measly $87 billion for the reconstruction of Iraq, less than 3 percent of the combined cost of the stimulus bill and TARP. [snip]

Democrats are now seeking not just a third installment to the New Deal, Lyndon Johnson’s Great Society having been the disastrous second, but the transformation of an American economy based on capitalist principles into a European social democracy, with Obama playing the role of 21st century Franklin D. Roosevelt supposedly completing what FDR started. [snip]

Democrats have long been at war with the marketplace, but only now do they have the kind of crisis that will spur much of the public and much of Congress to follow their lead without thinking, even to the point of painting any opposition to the federal government swallowing up the American economy as unpatriotic.

Although Democrats continue to worship at the altar of the New Deal, even liberal economists concede that it didn't "solve" the Great Depression but, indeed, certain of its features might have even made things worse.

Socialism is not the answer to a market downturn; rather, it is, as it always has been, only a guarantee of perpetual downturn. It is the place where, in Mark Steyn's words, nations go to die.

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