It has become crystal clear to all but a few die hard libertarians and cynical politicians that we are all going to sink together unless government stakes the future of our nation on deeper involvement in our economy. We keep hearing new names for it, but in one way or another our taxes, mostly future taxes, are going to be transferred to the remaining financial institutions. Not at all being a fan of nationalization of anything, I see no way of avoiding these transfers of wealth. But we at the very minimum need to insisting on a number of conditions to the process.
After criticizing the president’s $787 billion stimulus package as wasteful, a handful of Republican legislators have found some provisions to cheer.