Greg Roach's Berkshires Blog
Monday, January 26, 2009
  Understanding the Problem
I continue to believe that my Psych 101 prof is one of the most brilliant minds I have ever met:
The effectiveness of the conservative branding campaign on "government" is in fact a central reason we are in the economic mess we are in today. The notion that government is an evil--among some voters a necessary one, but among most voters an evil nonetheless--is what led Democrats to remain silent for much of the last eight years as George W. Bush turned record surpluses into record deficits in the name of scaling back government intrusion; weakened or eliminated regulations that had been in place for decades to protect American consumers, homeowners, retirees, and people saving for their retirement or their kids' college education; and failed to regulate new threats that were as preventable as they were foreseeable, such as unregulated commerce in "commodities" most people don't understand (e.g., derivatives) or putting too much money into risky investments without enough capital to back it up if good-times loans were to go bad. And the effective branding of government as the problem is part of what has led, over three decades, to Democrats remaining relatively silent as our infrastructure crumbled because of their (well founded) fear that their conservative opponents in the next election would attack them for their "tax-and-spend" profligacy. The result has been that we cut taxes to the wealthy and failed to invest in our future in times of relative prosperity, while creating the conditions that will require nothing short of massive government deficit spending, extraordinary governance, and a lot of luck to get us out of an economy that is still in free-fall.
 
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