Posted by
Mark1230 on Thursday, December 18, 2008 3:41:44 PM
I watched this interview last night on Fox News, and after picking myself up off the floor, I couldn’t believe that no-one has called this out….
“I’m a free market guy, but I’m not going to let this economy crater in order to preserve the free market system.” - President George Bush, Fox News interview.
Huh? If you aren’t willing to let the economy take its lumps in order to correct itself, doesn’t that ultimately mean that you’re against the free market system? I mean, all economies have to undergo corrections due to inefficiencies that crop up in the system over time. The difference between the free market system and other economic systems is that free markets correct themselves, whereas other systems are never allowed to self correct.
This runs totally counter to what Reagan said in a 1975 radio speech (does anyone have some links to those BTW?), where he explained that continuing to try to “save” the economy by government spending does nothing but create inflation and leads to economic stagnation (he said this before Carter became president and we had the stagflation during his administration). When Reagan became president, he re-engaged the process of free market capitalism, and lo and behold, it worked! Why don’t we just do that again!