Think of these kinds of government cramdowns as doing it on the faux-cheap. It looks inexpensive, because the government isn’t shelling out directly. But making things artificially cheap by hiding the pricetag from yourself encourages you to do things you oughtn’t–just ask the current holders of “investment” properties purchased with “innovative” mortgages. In the end, the bill always comes due–and the accrued interest is usually a killer.
I really hope the rumors that the NYT will hire her to replace the disgusting Bill Kristol are true. McArdle is one sharp lady.
The Grateful Dead did this for years. Too bad no one at RIAA has learned the lesson.
Not too long ago, conservatives were thought of as the locus of creative thought. Conservative think tanks (full disclosure: I was one of the three founding trustees of the Heritage Foundation) were thought of as cutting-edge, offering conservative solutions to national problems. By the 2008 elections, the very idea of ideas had been rejected. One who listened to Barry Goldwater’s speeches in the mid-’60s, or to Reagan’s in the ’80s, might have been struck by their philosophical tone, their proposed (even if hotly contested) reformulation of the proper relationship between state and citizen. Last year’s presidential campaign, on the other hand, saw the emergence of a Republican Party that was anti-intellectual, nativist, populist (in populism’s worst sense) and prepared to send Joe the Plumber to Washington to manage the nation’s public affairs.