The myth of ‘government money’

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The myth of ‘government money’

Another bailout—mortgage banks, this time. Issuing and taking loans requires careful, fact–based deliberation by both the lending agency and the loan recipient. Instead, those making irresponsible fiscal decisions rely on the government to bail them out.

But there is no “government money” to fund such largesse. The only money that any government has was taken from us taxpayers.

Government agencies extract money from us, spend much of it on themselves, and dole out the remainder to buy votes.

And then they play a finger-pointing blame–game to distract us from their deeply flawed self–interest, all the while ensuring us that there will be no more costly bailouts.

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