Wednesday, July 27, 2011

Watching a congressional hearing leaning on the credit rating agencies. Of course, they can't really violate the free speech rights of these people, but they're sure trying. "Blame anybody but yourself," seems to be the motto in Washington.

I keep thinking that we ought to let the government default and suffer the consequences of its irresponsibility. Yes, it would be a crisis for big business, but I think Americans would muddle through. Most people still have jobs. A lot of "seniors" would hurt, because they never put aside anything when they were earning, but a lot of them can still work. I think a rational system would make social security and medicare means-tested. As they are now, they're just an intergenerational wealth transfer mechanism. I don't think the government should be issuing checks for anything but payment for services or products and repaying debts.

The GOP should just tell Obama to pound sand as he's done to them.

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