The government told bankers, “Make housing loans to people who can’t afford to keep them up. Don’t worry about defaults — the federal government will guarantee every loan you make!”
“OK!” said the mortgage bankers. “What could go wrong?”
The president told the Congress: “Pass this stimulus bill. Millions of shovel-ready jobs and my buddies over at Solyndra are waiting on some easy federal cash to end the recession. Don’t worry about the national debt — it’s crisis time!”
“OK!” said the Congress. “What could go wrong?”
Th president told the insurance companies: “Sign on to Obamacare and help pass a bill that will force people to buy your product. Don’t worry if you go bankrupt — there’s a provision in the bill that covers your losses.”
“OK!” said the health insurers. “What could go wrong?”
The president told the voters: “C’mon, folks, support my plan to insure all Americans. Don’t worry what this plan will do to existing policies — you like your policy? You can keep it and your doctor, too. Period.”
“OK!” said far too many easily duped voters. “What could go wrong?”
Democrats told Maine’s governor: “C’mon, Paul, have a heart! Expand the Medicaid rolls to include all those able-bodied people who are left to fend for themselves. Don’t worry about the cost — the federal government will pay for the first three years, wall to wall! After that, feds will cover 90 percent!”
“No way!” said the governor. “What are you, nuts?”
I suspect history will say we were.
Leonard Hoy, Greenwood
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