Principles of Good Governance vs Obama's BailoutNation

Principle #1: Fix what already exists before you invent something new.

Principle #2: Don't feed failure, leverage success. What's the common theme of the bailouts and our Bailout State Economy? We are feeding failures! Look at the GM bailouts then takeover: Good money thrown after bad, Government takeover and meddling in ways which hurts investors and costs billions for taxpayers. The taxpayers would have to see a huge GM turnaround to be made whole - it won't happen. Nationalizing GM may even violate GATT.

How do we pay for it? By starving (ie taxing) success! This is the "Vampire Economy", where healthy companies are made sick by the added burden of Government-sponsored unhealthy companies. Show me a business textbook and they will tell you that feeding failure and starving success is a good way to run a business into the ground. Cynicism is warranted.

The way out of the mess is to stop feeding and supporting non-viable businesses - let them fail and rebuild using private-sector money. And lower the Government burden with lower tax rates and fewer obstacles to economic activity. The point on taxes of course is that when you lower tax rates you feed the success of the economy and via that success, you lift up asset values, incomes, increase jobs and add to prosperity.