When the government plays favorites

Outstanding article from John Stossel in Reason:

People say government must “help the little guy, promote equality, level the playing field.”

People often go into government to do that. But even when people mean well, it’s natural for them to help out their cronies.

David Stockman, who ran the Office of Management and Budget under Ronald Reagan, was criticized for saying the government’s budget numbers didn’t add up. But he was right.

Now, in his book “The Great Deformation,” he says both major political parties failed ordinary Americans when the housing bubble burst, and they rushed to bail out cronies at big banks. Government continues to threaten our future by printing gobs of money and guaranteeing trillions in loans to banks, homeowners, students and other politically connected groups.

Continue reading at When the Government Plays Favorites.