Other People’s Money

“When people are pulling down hundred million dollar bonuses on Wall Street, and taking enormous risks with other people’s money, that indicates a sense that you don’t have any perspective on what’s happening to ordinary Americans.”

— President-elect Obama, referring to CEOs and his opposition to capitalism

Wait a minute. Isn’t this what politicians do? CEOs take risks and sometimes they win; sometimes they lose. Usually, their success (or failure) has a lot to do with the quality of their judgment and ability in their particular business — or lack thereof. A politician, on the other hand, seizes money by force — other people’s money, not money the politician in any way created or generated. The politician might justify this seizure by stating, “I’m doing this for the little guy,” but the little guy will face a weaker economy thanks to the seizure of this wealth by the politician: fewer jobs, higher prices, and fewer opportunities. The politician spends this money according to the dictates of the special interest groups who funded his campaign. I don’t think these special interest groups qualify as “ordinary Americans.” The arrogance of politicians generally — nearly all of whom possess this attitude — is overwhelming. The arrogance of our new President, in particular, is, quite simply … staggering.