Too Big for Philosophy?

I have stated that I was surprised by the fact I wasn't exactly certain what my take was on the automakers bailout. I just read this very interesting piece by Krugman. I think I may have figured out my uncertainty. The size scope and nature of the current financial situation maybe such that it breaks one's ability to simply fall back on standard political philosophy.



One can see this when the argument in Congress is not should the Government be doing something, but what and how much and where. We will certainly see politics played with the situation but it might not be the same that we have been used to where everyone digs their heels in and plays chicken. Let's hope. I sense there is a real debate going on and honest debate of what needs to be done. People are letting go of their political dogma in order look at this situation fresh.



President Obama (I know I am a week early) campaigned heavily on this concept and I believe him. We may be fortunate enough to truly have the right person in the right position to take advantage of the seriousness of this situation.

(I don't mean to simply beat up on Bush. It is easy to recall the Bush campaign in 2000. We are running surpluses and paying down the debt. We need to cut taxes to give this money back to the people. When the economy started to falter in 2001 we have to cut taxes to allow people to keep more of their money. So if things are good cut taxes, if things are bad cut taxes????)

This is a classic example of a simple fall back to political philosophy regardless of the actual facts on the ground. Let's all hope for better this time around even if we do disagree on what ultimately is best.