I just checked the date on his new piece in the National Review, and he pre-dates me. By a whole day. Doesn't matter that I didn't read it until now.
However, I CAN say that great minds think alike. From Whittle:
And this is my concern about the $700 billion kidney stone the economy is trying to pass. It seems to me that if we are going to change behaviors then the people who got us into this mess need to feel a little pain. If the hospital was handing out free Dilaudid every day my first question would be “what time do you guys open?” I’d pass 50 kidney stones a day if I could get to play with the unicorns instead of suffering for it.And, from me:
Every decision we make is based on a risk/reward calculation. If we take away the consequences of risky behavior, we will see more of it. And if there’s a money-back guarantee for greedy and stupid decisions, we’re in real trouble, because there is only so much money in the bank but supplies of greed and stupidity are endless.
Really, the argument for NOT funding a bailout is that:
Those of us who are ants really don't want to give the grasshoppers another excuse to NOT learn their lesson. Sometimes, it's the lessons that hurt the most that you need to learn.
I feel strongly that those who lived the high life need to get a wake-up call:
* You don't own your house if you had 100% financing
* You don't own your car if it's leased
* If you bought your possessions on credit, they AIN'T really YOURS
* and, most importantly, if you can't save each month because all your money is committed to paying creditors, you need to reduce your inflated standard of living.