Modern American economic politics, particularly in the last 15 years or so, has morphed into a perverse and dangerous game of stock picking.
Given the economic intelligence of most politicians, particularly our last several presidents, the better analogy might be horse racing.
Government has invested heavily in certain industries. Some have grown and some have famously flopped. President Obama’s investments into Solyndra and other green companies have cost taxpayers billions. His investments in bailouts for the auto companies, particularly GM, were band-aids on what are long-term problems. General Motors still owes the government billions while a company like Ford, who had to pull its way out of the recession, is the top selling American brand in the market place.
But it hasn’t just been the Democrats. President George W. Bush put billions of dollars of subsidies into defense contractors for a war we couldn’t afford to fight. Liberals will tell you…
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