I think she says more about it in her speech at the RGA Conference today - I may be delusional here but I know she basically says that bailing out the auto dealers and now states is not the answer to our problems.
I know, and that’s why I said I was only mildly disappointed. When I read the whole Weekly Standard article, my impression was that she opposes bailouts except in cases of emergency where a bailout is necessary to prevent substantial economic hardship. She then says in so many words that the government hasn’t given us sufficient information to conclude that the exception should apply.
Many people will be satisfied with this position, but I’m not one of them. I want no federal bailouts — on principle. If I want to invest in GM, I’ll buy GM stock. I don’t want my government forcing me to do it with my tax dollars (and without even giving me GM stock in return). I have better things to do with my hard-earned money than to bail out failing businesses that happen to be politically connected.
Whatever economic pain this cold turkey approach causes will be far less than the much greater economic pain (and loss of economic freedom) that we will suffer in the future if we don’t stop this inexonerable march to socialism. The government has already partly nationalized the banking industry, and in addition to the auto industry it also is targeting the health care industry. This must end. And the first step to getting out of a hole is to stop digging.