Remember this:
"You can't let a serious crisis go to waste." Even if you have to make it up. Allan H. Meltzer writing today in the Wall Street Journal says the economy was never in the crisis that the Obama Administration wanted you to believe it was:
The facts we face today are very different than the grim reality Americans confronted between 1929 and 1932. True, this recession is not over. But it would have to get improbably worse before it came close to the 42-month duration of the Great Depression, or the 25% unemployment rate in 1932. Then, the only safety net was the soup line. The current recession is also much less severe than the 1937-38 Depression. A more accurate comparison is to the 1973-75 recession. Today's recession is as deep and most likely won't be much longer than the one we experienced some three decades ago. So why do so many say this is the worst economic downturn since the Great Depression? Well, that's easy. The Obama Administration needed a "crisis" to use to pass the stimulus, to pass health care reform, to pass Waxman-Markey. As H.L. Mencken said: The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. And the Obama Administration is exceedingly talented at that.
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