J.R.R. Tolkein cautioned in The Hobbit that, “It does not do to leave a live dragon out of your calculations if you happen to live near one.” For those who value private property, free speech, unfettered competition, limited government and the principle of taxation with representation, Election Day 2008 was not only an historic event from the perspective of race relations in America, but also a shocking affirmation that a new generation of power-hungry socialists have surfaced from within that Trojan Horse called the The Democratic Party. These neo-socialists have already begun the process of turning this country into a nation of hand-out seekers, Wall Street whiners and corporate derrière smoochers seeking bail from the very people who contributed to their economic imprisonment.
In the coming months, I am certain the NeoSocs will be joined by others from both sides of the aisle who, for the sake of political expediency, will turn their backs on the principles of free-market capitalism. These sell-outs will help enact legislation that may cause Karl Marx to do an end-zone victory jig in his grave. It will not do to leave this live dragon out of our calculations.
When the media hype and spin are unraveled, three key factors emerge that explain America’s current political and economic debacle:
First, starting with Lyndon Johnson’s Great Society program, the U.S. Congress created numerous market disruptions in the form of social justice, pro-union and environmental laws. Ask anyone who has observed the downfall of the American auto industry about the impact of punitive environmental regulations and pro-union policies on the competitiveness of Ford, Chrysler and General Motors. Take a good hard look at the long-term effects of Jimmy Carter’s 1977 Community Reinvestment Act and the Clinton Administration’s influence at Fannie Mae and Freddie Mac to find the root cause of the sub-prime mortgage disaster.
Second, when the Republicans took the reigns of power in both houses of Congress, they quickly abandoned their conservative fiscal values, increased the size of government and spent taxpayer cash like it was growing on those Japanese cherry trees that surround various monuments to our nation’s founders. Talk about rolling over in their graves!