1.03.2009

The tide retreats

Via Instapundit: is bailout fatigue growing?

If the Left is concerned about corporate welfare efforts which contradict its social and environmental aspirations, and the Right is worried about the eradication of market discipline, from what quarter will the support for continued bailouts come? As the new Congress and administration surveys the results of the first round of bailout-mania, it may just be that their ardor for this sort of anti-recession activity fades. Indeed, there’s quite a bit of skepticism in the air...

If Republicans are looking to play a constructive role and join forces with Democrats to help revive the economy, they might suggest a serious bipartisan effort to examine how the bailout money has been spent and what it’s given us. That might be the basis for a fruitful discussion — one that both ends of the political spectrum might embrace — about whether, now that the immediate panic of the financial crisis has passed, we have had quite enough of bailout-mania. Perhaps both parties can begin to recognize that there are better ways to spend taxpayaer money than bailing out incompetently managed firms and failing industries.