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Bailouts Threaten Our Nation's Dignity - ZT

本文发表在 rolia.net 枫下论坛As we look at the shameful absurdity of auto executives flying into D.C. on private jets to get public bailouts from cash-strapped taxpayers, I thought of the late, great economist Milton Friedman and what he had to say about public spending. Here are his words, from an interview I did with him four years ago:

“There are four ways in which you can spend money. You can spend your own money on yourself. When you do that, why then, you really watch out what you’re doing, and you try to get the most for your money.

Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost.

Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch!

Finally, I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get. And that’s government.”

And that’s what we’re getting further into. And that’s why if we don’t stop buying into this fairly tale world of magic, cure-all bailouts soon, we could not only lose our national treasure, but we could also lose our dignity as a nation.更多精彩文章及讨论,请光临枫下论坛 rolia.net
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  • 枫下茶话 / 政治经济 / Bailouts Threaten Our Nation's Dignity - ZT
    本文发表在 rolia.net 枫下论坛As we look at the shameful absurdity of auto executives flying into D.C. on private jets to get public bailouts from cash-strapped taxpayers, I thought of the late, great economist Milton Friedman and what he had to say about public spending. Here are his words, from an interview I did with him four years ago:

    “There are four ways in which you can spend money. You can spend your own money on yourself. When you do that, why then, you really watch out what you’re doing, and you try to get the most for your money.

    Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost.

    Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch!

    Finally, I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get. And that’s government.”

    And that’s what we’re getting further into. And that’s why if we don’t stop buying into this fairly tale world of magic, cure-all bailouts soon, we could not only lose our national treasure, but we could also lose our dignity as a nation.更多精彩文章及讨论,请光临枫下论坛 rolia.net
    • Bailout takes money from well-managed corporations, families and give to those poorly-managed ones. It punishes success, rewards failure. This insane behaviour must stop.
      Those billionaire bankers and auto executives need to PERSONALLY pay for their failures. The reason they get fat pay checks is that they take the risk of losing everything if their businesses fail. Now what? They make money and take all the credits when times are good, and ask poor taxpayers to bail them out when times are bad. How fair is that?
    • Hank Paulson spends the $700 billion bailout funds anyway he wants to. You have no idea where he spends, what he buys and why. Is he the Treasury Secretary of the United States, or a dictator of a Banana Republic?