Monday, September 29, 2008

America's future

America's future is at stake. The bailout has changed America's financial standing, and both sides of the ideological spectrum need to adjust their arguments to these new conditions. Larry Summers (via Glenn Reynolds) is offering the liberal position on how America should move forward:

A time when confidence is lagging in the consumer, financial and business sectors is not a time for government to step back.

Well-designed policies are essential to support the economy and, given the seriousness of health-care, energy, education and inequality issues, can make a longer-term contribution as well.
Where is the new conservative vision for America? Here is my vision, but I am blogging in obscurity.

Update: Howard Fineman is also espousing the new liberal view that capitalism in America is dead. If conservatives do not stand up and fight for capitalism, it might very well die.

Update II: Howard Fineman wrote "The era of cowboy capitalism has died, largely of self-inflicted wounds." The video belows shows that Howard Fineman does not know what he is talking about. For those who are unaware, Fannie May and Fredie Mac are not free market institutions. They are government created and subsidized institutions.

The video is via Glenn Reynolds.