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Pictures courtesy of the authors. All opinions expressed on EconLog reflect those of the author or individual commenters, and do not necessarily represent the views or positions of the Library of Economics and Liberty (Econlib) website or its owner, Liberty Fund, Inc.
The cuneiform inscription in the Liberty Fund logo is the
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"freedom" (amagi), or "liberty." It
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"The best and the brightest see no limits to their ability to make our lives better through their exercise of power."
I see no intent to make our lives better. I see only intent to control. (Maybe your phrase was facetious.)
"I do think that overspending will do them in."
I see no evidence of this. People are getting frustrated because massive spending didn't fix unemployment, but I see little concern among the general public about overspending per se. The most concerned person I know is my 16-year-old daughter who (correctly) expects massive taxes when she starts her career. My adult family and friends worry more about other issues. I don't expect overspending to be a political issue until we reach the point where the US cannot borrow money.
Half, or more of the TARP, through financial companies, or directly to foreign banks and central banks is off shore.
We can print, way way more, as the world and China will suck it up.
It will be a decade, or more, at this rate until we start doing a Wiemar or Zimbabwe.
Options? Continue until crash( fast or slow ). Massive raise taxes. Nope, Repubs will only go for slowly raising taxes.
Cut spending and citizen buying. Neither party will do that.
Back to plan A. Crash.
Dr. T,
While the real intent might be control, the administration and their supporters would never say as such outright... and some might even believe the hype.
"People who have no health insurance are *suffering* and it's up to the elite in government to exercise their power to alleviate this 'suffering'... whatever the cost (because how can you put a price on healthiwellness?)."
The display of sincerity might or might not be sincere, but it is what's on display.