The odds of success here? Would you give me your most precious possession in exchange for my promise to do something that neither I nor anyone has every done before?
Consider the government central-planning conceit that we are now trying to recover from in the housing and financial markets.
The federal government created Federal Housing Administration, Fannie Mae, Freddie Mac and other entities, backed by us taxpayers, to increase home ownership.
According to Peter Wallison of the American Enterprise Institute, "almost two thirds of the bad mortgages in our financial system ... were bought by government agencies or required by government regulations."
Fannie and Freddie were bailed out last year, adding $5 trillion to our national debt, and put under government control. Now the news is it looks like FHA needs to be bailed out.
And, of course, low-income people who are the supposed beneficiaries of government compassion are the victims. Foreclosures in minority neighborhoods are reported to be seven times higher than the national average.
We can expect the same results from government taking over health care as we've gotten from housing socialism.
This country is about freedom. There's no substitute for the fruits of personal responsibility. Giving it up for the conceit of socialism is indeed a fatal mistake.
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