Some sobering thoughts on the financial future. We have to get spending (particularly entitlements) under control. And socialized health care is one of the worst things we could do in that regard.
[Update a few minutes later]
Some thoughts on the disaster that was the New Deal:
The New Deal tripled taxes, which meant consumers had less money to spend and employers had less money for hiring; a number of New Deal laws made it more expensive for employers to hire people, which also meant less hiring; New Deal soak-the-rich taxes discouraged investment, and it’s almost impossible to create private-sector jobs without investment.
Other policies hurt Americans in other ways. Several New Deal laws banned discounting, when desperate people needed bargains; the New Deal authorized the destruction of food when people were hungry; the New Deal established hundreds of cartels and monopolies; the New Deal centralized the power of the Federal Reserve, and the Fed’s first major policy decision was a blunder that brought on a crisis within a crisis (the depression of 1938); the New Deal broke up the strongest banks and did nothing about laws that prevented thousands of banks from diversifying their depositor bases and their loan portfolios (Canada didn’t have these laws, and it went through the Great Depression without a bank failure).
Unfortunately, we just put a lot of people in power who want to (or at least claim to want to) do it over again.