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Tuesday, October 16, 2007
Who Spends Money Better- You Or The Government?
The President gave a major talk on the budget yesterday (White House-edited transcript). This excerpt struck me:
And a second belief I have is that you can spend your money better than the government can. (Applause.) We have needs -- we have needs in Washington. We got to fund a military; we got to fund help for the poor. But I do believe that the government has got to understand that the more money you have in your pocket, the better off our economy can be, and that the more money you have in your pocket, the more likely it is that you'll be able to realize hopes and dreams for your family because you set the priorities with your money. And that's just a fundamental difference of opinion.
Depends on what money you're talking about. If it's money for health care, Bush does not trust you to spend wisely. He wants you to set up a special health savings account (HSA) because he thinks you'll waste the money the government would give you. Or he'll give you a tax break to help you buy insurance on your own, which will be expensive and probably limit how much coverage you can get.
But remember, it's all for the better. You have to feel pain when you buy health care. Otherwise you'll spend too much.
He's not even talking about dirty lazy poor people here, who we all know can't spend money responsibly. HSAs and tax breaks are for the middle class. Does he really believe that hard working people are so irresponsible or greedy?
This is the oft-unspoken logic of the "public choice" theorists who take up residence in the president's brain. Government programs must be pared back because they encourage all kinds of reckless and expensive behavior. Only the discipline of the competitive market can ensure efficiency. "You can spend your money better than the government can."
The populism of the right is a thin shell. It disguises its inner cynicism.
Posted by Matt Lewis
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