Thursday, June 10, 2010

A fundamental misconception that the Tea Party has--that the U.S. economy is being socialized because of bankruptcy

Or, you can't have it both ways. The first complaint of the Tea Party is that the government bailouts that have taken place in the last two years have mortgaged their children's future and have been ineffective, that they have essentially just been throwing money at the problem. Yet when as part of the bankruptcy process the government intervenes and restructures companies, changes how they work, and makes demands on them in order to change the practices that lead to the bankruptcy in the first place they're pilloried as taking over everything. The changes are done specifically so that the money used isn't thrown away and so that real change does happen that helps fix the economy. It actually moves the country towards the goal of economic recovery that the Tea Party says it wants. You can't criticize the government for just throwing money at  an issue and then when they actually try to do something about it accuse them of being authoritarians who want to enslave you. All of this restructuring is normal practice with corporate bankruptcies. None of it is special in any way that would single out what's happening now as being qualitatively different from what happened before.

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