Unlikely Saviors of Capitalism and the Nation

Tonight Washington State Senatorial candidates Pattie Murray (D) and Dino Rossi (R) debated. Mr. Rossi has a record in the Washington State Legislature of cost cutting to balance the budget. Senator Murray has a voting record in the US Senate making her the most liberal member of that body. She is running away from that record to a certain extent while also reminding voters of government money that she brought to the state. Dino reminded us of the practice in congress that our representatives use to get support for spending in their state. They vote for projects in other states in exchange. Dino Rossi is no RINO (Republican in Name only), but neither is he a Tea Partier. He seemed to be lack-luster in his early TV spots denouncing the Obama policies. He seems to be only half-heartedly against Cap-and-Trade, if he is against it at all. Nevertheless, his vote will be 90% conservative as apposed to Murray's 99% in favor of BHO and Majority Leader Harry Reid's agenda. Several other House and Senate races involve similar match ups. The Republicans and the nation need to win a majority of those races.

The conservative view is that economic difficulties stem from government intervention in the economy. Rossi gives this view lip service. Senator Murray does not seem to even understand the concept. Our current national economic problems were caused not only by decades of government actions but specifically by laws requiring banks to loan to bad credit risks. Because Freddy and Fanny were buying most of these loans from the banks, the banks were not too worried. The government was implicitly promising a bail-out if needed, and it was needed. All kinds of other bail-outs and government 'stimulus' spending followed. Those government actions are what is causing the current economic slow-down. It will turn into economic collapse unless we change course immediately.

BHO and his allies in congress have taken over the domestic auto industry, except for Ford Motor Company. They have taken over the biggest insurance company directly, and through the health care law, have taken over all of the health insurance industry. They have directly taken over many banks and investment companies and through the Wall Street 'Reform' bill, have effectively taken over all of the rest of that industry. In the Health Care bill there were provisions to take over more aspects of the economy, student loans, for instance. The laws granting bail-outs to state teachers and other government employees, have taken more control from the states over these employees. Many, many, laws and obscure provisions hidden in the massive Wall Street and Health Care monstrosities, set up new government agencies to control the people even more. Now, with Cap-and-Trade, they plan on controlling energy production, use, and distribution. Those industries are already highly regulated. To help them gain and keep control over the people, they want even more control over the Internet and talk radio. Since they already have control of the mainstream TV and print media, they will gain virtual complete say over what we, the people, are told to believe.

These massive government actions, most of which are for political not economic purposed, will not help the economy. In fact they are causing many problems that continue to get worse. As stated here and elsewhere, prices must lower and bankrupt concerns must be liquidated for markets to return to normal functioning. That is not happening. Government is creating money and debt at breakneck speed to shore-up housing prices, wages, and many industries (such as banking). This is postponing the inevitable and making the inevitable worse. Even if Republicans were to gain control in congress, there would likely be a long uphill climb.

Regarding Senate races, after the debacle of Reid's performance in his debate with Sharon Angle today, his chances of retaining his seat declined dramatically.