Writes economist Bryan Caplan at George Mason U.:
If a Democratic president were backing a $700B bail-out, I have to think that Republicans would be crying “Socialism!” But if a Republican president does the same, the bail-out’s natural enemies keep silent out of loyalty or ingroup bias. It’s a lot like the contemporary Republican reaction to Nixon’s price controls – if our boy is doing it, how bad can it be?
The scary thing is that once party Y gives the Inane a chance, party X may be able to finish the job without credible resistance. After party Y surrenders the rhetorical high ground by embracing the Inane, what’s to stop party X from making Inanity a way of life?
Read the whole post here.