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The Case for Austerity

December 29, 2011
Andrew P. Napolitano
12/29/2011

Do you remember this summer’s debt debate debacle? It ended with the supercommittee, which ended in failure, which resulted in no cuts in government spending. Do you remember the summer before that, when tea party protesters came out in full force against Obamacare and members of Congress who were contemplating supporting it? Do you remember when the tea party movement made the Republicans the majority in the House and replaced a few prominent liberal Republicans in the Senate with small-government conservatives?

Where was all the raucous protest when those who were elected to Congress in 2010 on the promise of reining in spending so spectacularly and clearly failed to do it?

It seems everybody wants something for nothing and everybody wants something from the government. Frankly, this is why Ron Paul has never been the flavor of the week. He is the only serious presidential candidate who is actually advocating real austerity, real spending cuts, a real shrinking of government.

Newt Gingrich and Mitt Romney don’t want to shrink government. They love government. They just want to manage it better. The problem with that approach is that government by its very design is always mismanaged. The centralization of decision-making amplifies the effects of poor decisions while disincentivizing prudent ones.

And now… the rest of the story. …..

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