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3/26/2009
There is a price to be paid for this kind of paternalism
It was a moving speech, containing many of the elements Budget Committee Ranking Member, Wisconsin Congressman Paul Ryan has set forth over and over in countless public appearances these last several tumultuous weeks.
The start was from a sincere, passionate representative of the people – and yes, talented policy wonk.
First before I start off, I want to say [to Committee chairman John Spratt, Jr., D-SC] I think you are a gentleman, you’re an honorable man and I want you to know that. (laughter) …There’s no “buts” to that. I really sincerely mean that. I want my colleagues to know we’re going to have a long day. It’s going to be a vigorous debate today. All of us are here because we have passionate feelings about public policy, our government and the role it plays…. We’re going to have a vigorous debate today. It’s my hope and intention that this vigorous debate today is about the policies and the issues… and it’s not personal. So I just wanted to try and get off on that kind of a foot.
This is an enormous discussion about the future of our country. Below are a few excerpts. You can read the rest and see the video here. It’s dramatic. It’s scary, and it’s moving.
The Majority has already begun its strenuous claim that this is not the President’s budget – that it dramatically reduces the spending, deficit, and debt levels of the Administration fiscal plan.
…. With this budget, the President and the Democratic Majority are attempting – very quickly, and rather openly – nothing less than the third and final great wave of government expansion, building on the New Deal and the Great Society.
…. Now to many, the promises of this budget sound appealing – who wouldn’t be attracted to the promise of free health care…guaranteed college for everyone…and no need so great – or so small – that the Federal Government can’t fulfill it for you?
…. But there is a price to be paid for this kind of paternalism. The budget helps illustrate that price, showing the huge expansion in spending, taxes, and debt.
…. What is most troubling about this plan – and its philosophy -- is what they will do to the unique character of America and Americans.
…. As I noted at the start, if we accept this path, and this agenda comes to pass, it will mark this period in history as the moment we begin to give up on Jefferson’s great American experiment, and the transition to the European model will begin in earnest.
We can do better. We must do better. And I will do everything I can to ensure we will do better. The $3.55 trillion budget passed through the committee after only a single day of hearings. (Granted, it was 10:30 AM to almost midnight.) Can you tell me these guys read the bill? I think Paul Ryan did...
Again, read and/or view the rest of Ryan's opening remarks. It’s very important stuff. To you, to me. To our children and our grandchildren.
Jo Egelhoff, FoxPolitics.net
COMMENTS
When one begins with the fact that 5% of the wealthiest Americans control over 80% of the wealth of this country you begin with the proper perspective. The last ten years of policy have resulted in massive job loss, policies that will put people out of their homes, a banking system and insurance systems that ran us into the ground through deregulation and two unnecessary wars that further drained our economy, it is no wonder that the people are fed up and willing to risk future to recapture a bit of the action. I am not at all surprised people want a college education for their kids, health care, retraining, care for returning veterans dramatically affected by the exposure to war and a host of other services. The average American who has seen his or her wages depressed, their jobs off shored, benefits reduced or more costly have had enough. I don't question Ryan's motives, they smack of good old fashioned boot strap philosophy. Boot strap philosophy does not put food on the table, care for the health needs of our children and aid in growing them into well educated healthy future generations. I am the beneficiary of the blessings bestowed upon me by the Greatest Generation's efforts to care for me, educate me and give me a great start. I had great roads to travel a splendid infrastructure and lived through one of the most prosperous and certainly fairer economic realities. Then we began an era of greed. Greed that has resulted in the near collapse of our entire economy now and forever linked to world fortunes. I am for any effort at a policy of fairness that levels the wealth and more evenly distributes the opportunities that come from middle class levels of cash flow. Our biggest fault lies with an easy credit system that abandoned old fashioned principles of logic and creditworthiness. While elements of Mr. Ryan's thesis may have merit they will be largely ingored by the majority of Americans because they are simply fed up with the greed and largess of the last ten years.
billie (Thu Mar 26 07:56:09 2009)
I'm 65 and started my first business in 1980. For the most part in all those years American style competitive capitalism worked well, very well in fact. The problems I had, always, always, always were caused by government intervention. Today it's worse than ever. I wasn't in the banking business but it's today's best example of government intervention. Take the sub prime mortgage problem. It was caused by government. Loaning money to poor or non credit worthy people was, and still is, a recipe for disaster and yet that's exactly what our government ochestrated. Now I'm forced to listen to the same government people that caused the problem, blame the private sector. No that's not correct Senator Dodd and Rep. Barney Frank. You two along with many other members of Congress are responsible for the mess. President Reagan said it all. "Government is not the solution to our problems, government IS the problem". Sadly, based on the 2008 election results, one has to assume that a slim majority of Americans do not understsnd that government incompetence is our problem. The Democrats want to take control of our economy. They want to call the shots.
Russ (Thu Mar 26 09:26:15 2009)
Russ, I am not an advocate of big government, but I have to take issue with yout premise. Government did not cause the "sub prime mortgage problem." The problem was caused by business people who sought greater and greater profits. Government failed because it did not regulate, it did not intervene, when greed overtook morally responsible behavior in the business sector. Government did collude by encouraging higher risk in lending to marginal borrowers. Nevertheless, lenders knew, that's right "knew", when they were making bad loan decisions. Again, I am aware of government's challenges to operate efficiently and effectively. But let's be honest. Absent certain government intervention, some will take unrestrained advantage of others, especially the uneducated, the poor and the most vunerable in society.
Dennis (Thu Mar 26 09:55:09 2009)
Dennis
I suggest you do a google search
"who caused the sub prime mortgage crisis".
Click on wikipedia, then click on "government polices"
Government involvement is defined.
Russ (Thu Mar 26 16:33:41 2009)
Debnnis,
You miss the point apparently, that government mandated the banks to do the marginal credit loans. I do favor more regulation in a couple areas. There was FRAUD committed at several steps of the way. First, in assessing the credit worthiness of the non-credit worthy. Second, in the underwriting of many of the loans, underwriters looked to other way in a number of cases, and third, those who packaged the loans rated them as more credit worthy than they should have known they were. But who, besides Bernie Madoff is being prosecuted? What good are more laws going to do if we do not enforce the ones we have?
Oh, and the greatest of the fraudsters were Ben Bernanke and Alan Greenspan, who spun money from nothing to keep the bubble over-inflated. Legalized counterfeiting is just another form of fraud, one that has devastated our economy by causing a mis-allocation of resources into unsustainable businesses. A bust follows every boom. END THE FED
For more, see Money, Banking and the Federal Reserve by the Mises Inst. Google it.
Ken Van Doren (Thu Mar 26 23:02:11 2009)
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