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Since this blog has been hard on Mitt Romney for his shameless portrayal of Washington as the potential savior of the Michigan economy, it is only fair that we should hold Rudy Giuliani to account for his disheartening call for a national catastrophe fund "to spread insurance risks associated with hurricanes and other natural disasters." In a new ad, he boasts to Floridians that he is the only candidate to support the proposal, which he promises will "reduce insurance rates." All this from a candidate who is trying to pitch himself as a fiscal conservative.

Insurance rates are high in Florida for a reason, and to artificially lower them through government intervention would be a moral hazard. That is, if homeowners do not have to bear the full risk of living in areas prone to natural disasters, it will only encourage more people to move into those areas, which will create ever more costly natural disasters. This is a textbook example of why conservatives believe that government should keep its hands off of the economy.

A truly sad moment for a candidate who prides himself on not being a panderer. And another dispiriting turn in the campaign for those of us who still support the concept of limited government.

Via Campaign Spot.