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Steve Chapman writes about Obama's plan [2] for expanding the role of government:
Obama thinks the scariest economic crisis since the Great Depression is
causeâor at least excuseâfor an aggressive expansion of government, a
la the New Deal. But it's a false parallel, economically and
politically.
causeâor at least excuseâfor an aggressive expansion of government, a
la the New Deal. But it's a false parallel, economically and
politically.
The severity of the Great Depression bred desperation, which made
the public receptive to radical changes. This contraction has been far
milder and less disruptive. In Franklin Roosevelt [3]'s day, Americans were open to transforming the economy. All they really want today is to revive it.
While they are willing to accept drastic measures to reverse the
recent slide, they are not likely to favor keeping them once the
emergency has passed. We all hope to see firefighters in the house if
the kitchen catches fire. Few of us would want them to move in after
the flames are out.