Wednesday, November 11, 2009
Rand Paul on Happy Hour with Fox Biz
The bailout's a tough question. I mean, it's not tough in the sense that, "it shouldn't have happened." It's tough in the sense that "now that it did happen, what do we do."
The fact is that bailout money was squandered -- lost in a black hole from which there is no return. The only real argument now for government to be so involved to the point of nationalizing industry, is that now government is trying to fix it's mistakes.
But the fact is, government can't fix it's mistakes. When it tries to fix things, it makes them worse.
Government is like a plumber who breaks more pipes then he fixes, only you can't fire him.
From this standpoint, it's obvious we need to get these companies back into the private sector ASAP. The longer government tries to manage these companies to make sure it recoups it's investment, the more taxpayer money is going to vanish into the ether. In other words, the best thing for the taxpayer, is for government to cut its losses, instead of spending more then what the bailouts cost trying to keep these zombie companies afloat.