Friday, December 12, 2008, 9:58 PM - Public Policy
Posted by Administrator
Let's pretend I have a job that is linked to the economy, maybe real estate or something (read: auto makers). Economy takes a crap, I'm not doing so good, can't sell houses (cars). Now I'm having trouble paying the bills now. Oh and by the way, no bank wants to loan me money because in all likelihood I won't be able to pay it back or I'll go bankrupt if the economy doesn't turn around. So then of course I must make a last ditch effort to stay afloat so I go to one of my good friends (the government) with lots of money laying around (nevermind he is already in debt up to his eyeballs). I lay out my plan complete with expenditures and whatnot, say I need $35,000 to get me through to January. Then my friend says, well, I want to help you out, I can't allow you to fail, you are a big part of my life. Nevermind that no one else thinks investing in you is a good idea. Here's $15,000. I look back at my friend, extremely confused.
Me: Didn't I just tell you that I needed $35,000 to not go bankrupt?
Me: Didn't you just say I can't be allowed to fail?
Me: Isn't bankruptcy failure?
Me: Don't you have $35,000?
Friend: Yes, but I'm only giving you $15,000.
Me: Wha?! So basically you are going to "loan" me $15,000 knowing that I'm not going to be able to get the $20,000 difference, forcing me to go bankrupt and default on the $15,000 you loaned me? So you've pretty much "loaned" me $15,000 that you know you won't get back.
UPDATE: Mike Huckabee
made the same point on FOX News, The O'Reilly Factor
, on December 12.