After a Series of Central Planning Failures Senator Durbin says what the Economy Needs is more Central Planning

Posted by PITHOCRATES - October 30th, 2011

Week in Review

The great Margaret Thatcher was a limited-government conservative.  She brought the UK back from the abyss of socialist malaise.  Fixed the economy.  Gave the people a life of plenty.  And good times.  The last Soviet leader, Mikhail Gorbachev, visited Margaret Thatcher.  He was impressed.  The people in the UK weren’t hungry.  He asked her how she did it.  How was she able to feed her people?  For in the Soviet Union this was a never ending crisis.  Growing enough food on their collective farms to feed their people.

An odd question for Thatcher.  Or any other capitalist.  Because elected leaders of capitalistic countries don’t feed their people.  The free market economy does.  And it does it very well.  For the Soviets had the breadbasket of Europe within her borders.  The Ukraine.  And the UK was but a tiny island nation.  With barely a fraction of the farmland as the breadbasket of Europe.  Yet the British could feed her people.  And the Soviets could not.  Which just goes to show you that planned economies are all well and good if you want to control and oppress your people.  But they’re abject failures if you want to feed your people.  Still, there are those who still believe in the folly of central planning (see Durbin knocks GOP for not ‘designing the economy’ by Joel Gehrke posted 10/29/2011 on The Washington Examiner).

Despite the demonstrable failure of the bank bailouts, the 2009 stimulus, and the federal loan program that produced the Solyndra scandal, Democrats still believe that Congress should play a major role in shaping the economy — with the help of expert planners, of course.

Senate Majority Whip Dick Durbin, D-Ill., acknowledged as much while offering a misguided rebuke to congressional Republicans. “Simply standing back while trying to design the bumper sticker for the 2012 election instead of designing the economy to put Americans back to work,” Durbin said during an interview with the Chicago Tribune, “is not what the American people are looking for.”

The Democrats took both the House and the Senate in the 2006 midterm elections.  They held that power until the Republicans took back the House in the 2010 midterm elections.  They had 4 years of full legislative control.  And what designing of the economy did they do?  Just the destructive kind.

The housing bubble blew up on their watch.  And the fallout, the subprime mortgage crisis, happened on their watch.  The Great Recession happened on their watch.  The bank bailouts, the stimulus and the federal loan program that produced the Solyndra scandal happened on their watch.  And if that wasn’t enough destruction, they unleashed the job-killing, economy killing, private health care insurance killing Obamacare.  And they wonder why the economy isn’t doing any better.

No, Senator Durbin.  We don’t need any more of your expert planning.  Anymore and I’m afraid you guys will do some damage that not even a Margaret Thatcher can fix.

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