Thursday, December 4, 2008

Mike Huckabee on the Big 3 bailout specifically, and bailouts in general

Mike Huckabee gave an interview this morning with Armstrong and Getty, local radio show hosts in Northern California. In hour 2 of the show, approximately 18 minutes and 44 seconds in (podcast here for as long as the leave it up), he said something incredibly telling:

"If we keep borrowing money against our grandchildren's future, are not we setting them up for a far greater economic collapse than the one that we keep fearing that we're going to have right now? And if we look a the difference between our parents' generation and our own, our parents were willing to make sacrifices in order to give their kids a better life. It appears to me that what we're trying to do is sacrifice our kids so that we can have a better life ourselves and avoid the consequences of our own stupid actions."

Thomas Jefferson would have agreed: "I place economy among the first and most important virtues, and public debt as the greatest of dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt. If we run into such debts, we must be taxed in our meat and drink, in our necessities and in our comforts, in our labor and in our amusements. If we can prevent the government from wasting the labor of the people, under the pretense of caring for them, they will be happy."

By the way, that doesn't mean he was for taxing the people. It means that extreme discomfort was preferable to public debt. That discomfort would not only get the people out of debt, but cause them to oppose new debt to the point where government could not incur it. Also, note that he felt everyone should share that burden, so that everyone would oppose new debt.

In perusing quotations from "What would Jefferson Say," I found related interesting thoughts:

"To compel a man to furnish funds for the propagation of ideas he disbelieves and abhors is sinful and tyrannical."

"I think we have more machinery of government than is necessary, too many parasites living on the labor of the industrious."

More specifically, from the same source: "The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." (Cited here, more interesting quotations at this site).

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