Just What We Don't Need

For a country that is in the midst of a shallow downturn (and facing increased competition on the global front), the proper remedy is a dose free market capitalism. Unfortunately, the Republican Party has chosen a candidate who has worked for the government his whole life, and who admits a limited understanding of economics.

Here is today's Annapolis speech parsed.

Service to your country is honorable in some ways. But it is selfish in others. Government employment in large, union protected bureaucracies is in no way any more important or moral than providing a good service at a fair price (which the market almost always demands).

I find it a bit frightening that the Republican presidential candidate is an open cheerleader for public sector employment. That's what the Democrats do. Obviously in this cycle, we won't have the normal anti-statist balancing from the Republican Party.

It seems likely that government as a percentage of GDP will grow under McCain, even from its present place at the upper end of historical levels (17 - 20%). As such, his presidency will likely bring lower long term growth.