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Baby Bush: the worst president in history? : Comments
By Doug Casey, published 4/9/2009Was Bush the worst president ever? Here are some of the highpoints in the catalogue of disasters his regime created.
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<< ... libertarians or classical liberals - i.e., people who believe in a maximum of both social and economic freedom for the individual. >>
Giving maximum economic freedom to individuals sounds good in theory, but in reality it's only ever freedom for a select few and always comes at the expense of those less privileged.
<< Because the only good thing I can recall that Bush ever did was to shepherd through some tax cuts. But even these were targeted and piecemeal, tossing bones to favoured interests, rather than any principled abolition of any levies or a wholesale cut in rates. >>
The only fair tax cuts are those to the poor and lowest paid and, just as these weren't the type favoured by Bush, the author too would obviously prefer wholescale tax cuts to rich and poor alike. This would only increase the already huge wealth disparities within the US.
<< Medicare Prescription Drug Benefit. This the largest expansion of the welfare state since LBJ and will cost the already bankrupt Medicare system trillions more. >>
I don't agree with increasing any nation's dependency on drug-taking, which is no doubt the end result of this legislation, but I disagree even more strongly with the author's implication that drugs should only be available for the wealthy who can afford their inflated prices.
<< Nationalisations and Bailouts. In response to the crisis he created, he nationalised Fannie Mae and Freddie Mac and passed by far the largest bailouts in US history (until OBAMA!). >>
I've mixed feelings about the bailouts, which gave greedy manipulators of the financial system a second life they didn't deserve, but the nationalisations were indeed a wise move. Contrary to the author's faith in free marketeering, the presence of a government owned and controlled bank is vital in preventing the private banking system from returning to its former unfettered freedom to accrue short-term profits, irrespective of social and environmental cost.