Bush and Obama have different flavors. But both are crony capitalists. Bush was the Republican version, Obama is the Democrat version. Both have sought to more closely link business and government, to expand the presidency and bureaucracy, and to reduce the inherent freedoms of the American people.
We’ve written about this in the past. The most important industry in the USA, also the least regulated (go figure) is tech. Technology companies thrive on innovation and beating each other to market. Historically tech, based on the other side of the country from Washington DC, has been a fairly free market. There is a reason why the price of computing comes down every single month and the quality goes up. The power the average person holds in his or her hand when they glance down at their iPhone is well beyond what a computer the size of a city block could do a generation ago. This is because of a relatively free market and very limited government influence.
It’s far too soon to tell. The overwhelming trend over the last 70 years has been toward increased statism and an expanded system of crony capitalism. But we are witness to an amazing change in the political winds. Just a month ago Democrats were declaring victory over having ended the partial government shutdown. Today there isn’t much crowing going on.
Apparently deep within the bowels of Obamacare is a provision which says that if an insurer who participates in the Obamacare exchanges loses over 3% more than they thought they would they can recoup 50% of that loss from the taxpayer. If the companies lose 8% they can recoup 80% of that loss.
Imagine one is a columnist and one has just been summoned to the White House for an “off the record” meeting. Once one is there the president explains why he believes a certain way about a certain program or policy and then he asks you to say what you think.
If the government is spying on the communications between individuals, companies, and governments to gain informational advantages in trade negotiations, general law enforcement, “homeland security,” and nearly everything else, the chilling effect on the overall economy could be profound.
Our government loves secrecy. I heard recently that nearly 3 million people in the United States have “secret” security clearances. A lot of information flows through the government now that the average citizen, the other 307 million of us, don’t get to see.
Well I guess 60 Minutes got that Benghazi story done just in time.
Good for 60 Minutes. Maybe there are still some real journalists out there in the #oldmedia.
This is not sustainable. When more people receive means tested government benefits (not Social Security, veterans benefits) than there are people working full-time jobs, there is a problem.