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Bailout Fallout

Our friends at the Chalcedon Foundation pointed us to an article which is an excellent analysis of the effects of the federal bailout program on the thinking of a portion of the populace who desperately need REAL information on the way economies actually work in a free society.

This article, written by Jon Rector the director of a homeless mission in Chattanooga, TN, provides insight into the tremendous damage done by politicians who are more interested in pandering for votes in the short-term than taking the proper steps to fix the economy permanently.

The problem is really analogous to a quack who puts a band-aid on a tumor and calls it cured. The cure is an illusion and will be far worse when the tumor grows. Worse yet, the quack then convinces others that his miraculous cure is the only real treatment for the disease.

But that’s exactly what Congress and the last two presidents have done with the economic bailouts (they’re not the original, but they are the most recent perpetrators of these economic con games). They’ve placed a band-aid on the galloping tumor of the collapsing economy and claiming that creating tremendous new debt to cover the tumor of the old debt was really the only cure.

But the real damage they’ve done is in perpetuating complete falsehoods about how the economy and government are supposed to work. Please read the article to get the details.

And if you read it and still don’t get it please think about attending the 2010 Freedom Action Conference

Freedom Action Conference

Posted in Biblical Worldview, Commentary, Economics, Public Policy Principles News.