Despite the central role that government sponsored enterprises – Fannie Mae and Freddie Mac – played in the recent housing collapse, their role in the housing market today has become even greater.
In 2011, 95% of all new mortgages were bought or guaranteed by Fannie Mae, Freddie Mac, or FHA.
And, of course, just about every working American is part of Social Security and Medicare, both of which are now fiscally untenable.
Now layer on to all this Obamacare, a trillion dollars in spending on stimulus programs, and bailouts of banks and auto companies. And five trillion in new debt, a 45 percent increase, over the last four years as a down payment on it all.
The bigger role government plays in our lives, the more America resembles the Post Office rather than FedEx.
And the bigger role government plays, the harder it is to fix the problem because individuals become used to these programs and fear fundamental change.
Mitt Romney touts his business experience as his qualification for the presidency.
That business experience amounted to turning companies around, improving their performance by making more efficient use of their assets.
This is exactly what our country needs today. A reallocation of our assets from government to private sector efficiency.
Getting off Uncle Sam’s Plantation is no longer a problem limited to our poor. It is a problem and challenge for the whole country.