I think we’re already seeing the early signs of the schizophrenic McCain economic polcy that Jim alluded to.
A few weeks ago, John McCain gave a speech on the housing crisis in which he rejected a bailout for homeowners. At the time I wrote that, “while McCain deserves some credit for rejecting the most draconian proposals of the Democrats, he still left the door wide open for some form of government intervention down the road.” And I asked, “the question for free marketers is, will McCain remain as reticent about government intervention if the crisis persists into the fall?”
Well, us free marketers didn’t have to wait until the fall to get disappointed.
