Wednesday, April 15, 2009

Quote of the Day: John C. Goodman

Mr. Goodman is the president of the National Center for Policy Analysis. He wrote in the latest Hillsdale College Imprimis:

The first of the Baby Boomers started signing up for early retirement under Social Security last year. Two years from now they will start signing up for Medicare. All told, 78 million people are going to stop working, stop paying taxes, stop paying into retirement programs, and start drawing benefits. The problem is, neither Social Security nor Medicare is ready for them. The federal government has made explicit and implicit promises to millions of people, but has put no money aside in order to keep those promises. Some of you may wonder where Bernie Madoff got the idea for his Ponzi scheme. Clearly, he was studying federal entitlement policy.

Like Margaret Thatcher said, "the problem with socialism is that, sooner or later, you run out of other people's money!"

4 comments:

Ron said...

Socialism is only one avenue that leads to tyranny, although a myopic one. Excessive greed, wrongly manipulated through the vehicle of capitalism, which controls government, appears to be the opposite, with identical implications. While we keep our eyes peeled for the possible decline into socialism, ignoring the other is a fatal mistake as well.

Solameanie said...

Without a doubt, Ron. We also need to be careful about trying to force Scripture around our preferred economic systems. I personally think that capitalism is the closest to the biblical model, but it shouldn't be completely unrestrained. That doesn't take into account the fallen nature of man.

Ron said...

Agreed Joel, on both accounts. I only bring this to the discussion because most of the talk I hear and read is focused on the dangers of a fall into socialism. But there is near silence on how our fallen nature has twisted such a great thing as capitalism towards a very similar tyrannical leaning.

lee n. field said...

"Social Security" Ummm. Yeah. Seems like nobody talked about that during all the crisis-stimulus oscillation last year and this. Wonder why... I always figured SS would go completely bust about the time it comes for me to retire in the low 2020s. Maybe, well, sooner.

"But there is near silence on how our fallen nature has twisted such a great thing as capitalism towards a very similar tyrannical leaning."

I would argue in typical libertarian fashion that capitalism remains ethically better. Socialism in all forms (except something like Euroleft socialist anarchism) requires other people's money collected by "force, fraud and coercion." Capitalism eschews that.

(My political self identification has moved over the years from (small "l") libertarian to "pessimistic Calvinist with libertarian sympathies". But try running that new category past a pollster who's mental gears strip at anything outside the narrow confines of D. vs. R. The latter has categories to account for sin, the noetic effects of sin, and depravity (in the technical religious sense).)