The government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.
It is sometimes amazing to see how hindsight and foresight of individuals are relevant to current events. It’s as though they were fortune tellers. The quote above made by President Ronald Reagan is in some ways haunting in how it relates to the current economic situation we have today. Just as stated, “…if is stops moving, subsidize it” is just the reaction and view of both the current Bush administration and incoming Obama administration. I hate to say that phrase “What would Reagan do,” but judging from the quote, I think we know what he would do. Let economics take its course and while some business will fail, prolonging the inevitable will hurt even more.