A Conservative Looks At The Bail-Outs

The Bush/Obama approach may keep us from experiencing another Great Depression, at least for now. But is it just postponing the inevitable great crash? Pat Buchanan seems to think so.

Socialist Republic
By Patrick J. Buchanan

...A family man in America's condition, awash in debt, spending more than he makes, would cut back consumption, find a second job and get out of debt. Or declare bankruptcy, accept the shame and humiliation, change his wastrel ways and start anew.

Is it different for a nation?

Yet we seem to believe we can borrow and spend our way out of a swamp of unpayable debt into which borrowing and spending have plunged us...

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