Is this what conservatism has come to?
Regarding the bailout package that passed the Senate yesterday evening:
The package supposedly brings new appeal to conservatives through its inclusion of various tax breaks. I am all for tax cuts and keeping taxes low. I also understand that cutting taxes must often occur pre-emtively. Waiting for lawmakers to reduce spending would mean that taxes would forever go up. Frequently, at least in the past, the best way to slow the growth of government spending is to take the money out of government's hands.
But....
Is it really conservative to continue the ever growing disconnect between federal revenue and federal spending by approving tax breaks along with up to $700 billion worth of new spending?
One does not have to be a deficit hawk to be concerned about the disconcerting irony of such a disconnect in legislation designed to remedy a problem created by subprime debt.
Update. The current economic crisis presents a quandary to those who believe in limited government. This massive intrusion by the federal government into the private sector represents a disaster for our country, yet to oppose what my blogging partner referred to as a "welfare system for the rich and incompetent" runs the risk of an economic collapse of historic proportions. The inability of those providing leadership in Washington to rise up and find a serious solution is extraordinarily disconcerting.
Even so, after further reading the details of the pork laden albatross passed by the Senate last night, I don't see how anyone in good conscience can support it. As bad as Monday's House bill was, it was considerably better than this.
The package supposedly brings new appeal to conservatives through its inclusion of various tax breaks. I am all for tax cuts and keeping taxes low. I also understand that cutting taxes must often occur pre-emtively. Waiting for lawmakers to reduce spending would mean that taxes would forever go up. Frequently, at least in the past, the best way to slow the growth of government spending is to take the money out of government's hands.
But....
Is it really conservative to continue the ever growing disconnect between federal revenue and federal spending by approving tax breaks along with up to $700 billion worth of new spending?
One does not have to be a deficit hawk to be concerned about the disconcerting irony of such a disconnect in legislation designed to remedy a problem created by subprime debt.
Update. The current economic crisis presents a quandary to those who believe in limited government. This massive intrusion by the federal government into the private sector represents a disaster for our country, yet to oppose what my blogging partner referred to as a "welfare system for the rich and incompetent" runs the risk of an economic collapse of historic proportions. The inability of those providing leadership in Washington to rise up and find a serious solution is extraordinarily disconcerting.
Even so, after further reading the details of the pork laden albatross passed by the Senate last night, I don't see how anyone in good conscience can support it. As bad as Monday's House bill was, it was considerably better than this.
posted by MCO at 5:29 AM
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