Stockman: Why Deficits Matter
Posted in Main Blog (All Posts) on March 15th, 2011 4:48 am by HL
Stockman: Why Deficits Matter
David Stockman: The Triumph of Crony Capitalism occurred on October 3rd 2008. The event was the enactment of TARP — the single greatest economic policy abomination since the 1930s or perhaps ever. Like most other quantum leaps in statist intervention, the Wall Street bailout was justified as a last resort exercise in breaking the rules to save the system. In the immortal words of George W. Bush, our most economically befuddled President since FDR, “I’ve abandoned free market principles in order to save the free market system.”