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The Bold and the Bad

Here's a letter that I sent recently to the New York Times:

The headline of Thomas Friedman's column on President Obama's economic-recovery plan reads "Obama's Big, Bold Bet" (April 5).

who make big bets with their own money act boldly.  Persons, such as
Pres. Obama, who make big bets with other people's money act badly –
and in two traditional senses of that word.

Donald J. Boudreaux


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