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News anchor criticizes big government intervention

January 2, 2009 by  

Stossel supports small governmentCan economic recovery be achieved while the government is attempting to enact social and economic changes?

That is the question posed by 20/20 co-anchor John Stossel, writing on the Constitution Party’s website to raise questions about the effectiveness of President-elect Barack Obama’s stimulus plans.

Stossel raises doubts about the ability of the government to "impose a utopian vision based on the belief that an economy is a thing to be planned from above."

Instead, he describes an economy and a society as being made up of different individuals striving to meet their goals, which cannot be controlled by a larger force.

Stossel points to FDR as an example of another president who opted to reform central tenets of the economy during a time of economic challenge, saying that the result was "long years of depression and deprivation."

During periods in which the government takes a strong role in the economy, investors may back off from risk due to uncertainty about having their efforts undermined, he says.

"Grand interventionist reforms go in precisely the wrong direction," Stossel concludes.

His comments come as some analysts have predicted the cost of Obama’s stimulus package could reach $1 trillion.
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  • S C Mailen, Jr.

    Stossel is right – and prophetic. Apparently, Obama intends to re-invent America’s economic wheel by outFDRing FDR. FDR’s chief legacy is an unnecessary, extended recession [made worse by an incompetent private corporation, the Federal Reserve].
    As long as ANY politician plans to ignore history, it should be our first obligation to remind them that anyone who acts as though he or she is above the law and the will of the people is no better than a criminal. Why would any sane citizen re-elect a criminal?
    Stossel needs to stick to the issue, and never give those in Washington a chance to weasel out of their legal and moral obligations to the people. America, if we do not vote out ALL of the Republican and Democrat parasites who are destroying the economy, we do not deserve to be free.

    • Timothy Kozak

      Stossel is an ideological moron!

      • John Westover

        Kozak, your reply tells more about you than it tells about Stossel. If you have nothing better than this to offer, I would say that it fits you more than him.

      • Reality Check

        Mr Kozak,
        You are a typical Liberal Loonie that professes tolerance but only for those that agree with you. John Stossel was one of you, but now that he had an “awakening to reality” now he needs his character and intelligence destroyed?
        BaWRECK is coming, BaWRECK is coming….the Jimmy Carter of the new century.

        The WIZARD of UHs is about to take office:
        BarCarter ObaJimmy the MISERY INDEX is beinf dusted off from the 1970′s.

        Tell me if ths is a SMART MAN?
        Obama has been in HAWAII at LEAST 2 times since he has been defending these qualification lawsuits at a cost of close to a MILLION DOLLARS (using a law firm that specializes in defending Muslims)…..the LEAST he could have done is gone into Town Hall, spend $20 and gotten his Vaulted Original Birth Certificate and CLEARED MATTERS with TRANSPARENCY since WORDS MATTER. Why didn’t he do it? If he is such a smart guy why spend $1,000,000 instead of $20?

        NEW VIDEO JUST RELEASED. “Obama” (may not be his Legal name)

        http://www.youtube.com/watch?v=QEnaAZrYqQI

        No Bush third term
        An USURPER s-elected
        We’ll get the 3rd World

        DON’T BLAME ME for BaWRECK
        I Voted PALIN & Hillary!

        • Timothy Kozak

          No. I’m not a “liberal” and consider myself a centrist independant who has voted locally and nationally for republicans. However, I suggest you earnestly study this economic meltdown and discover which parties “Ideology” most contributed to this madness. Democrats to be sure had their input, but not near as much as the modern day republicans. Stossel is a bright guy, but certainly not a pragmatist. He’s completely wedded to his ideology regardless of the facts.

      • http://www.fourward.com Warren Ward

        I’m sorry if I don’t understand everything, but who has been in charge of Congress for the last term? Democrats. And who do the weenie Republicans try to appease and always give in to when they are in power? Democrats. Who did George Bush(es) try to be like? Democrats.

        So I have to ask, why does following the Constitution they have sworn to defend and uphold seem to be so hard to do? Is it because it limits their power and power is all they care about? I guess the public schools are doing what they were designed to do- raise a nation of mindless, socialist, hamburger-flipping and lazy sheep.

  • Bob Livingston

    Economic recovery is a ruse to enact social and economic changes. The government rightly has no economic power except illegal (legal tender currency) that they force upon the people which unknown to the people transfers wealth to the government without payment.

    So-called economic stimulus is non-existent in a laissez faire capitalistic society. It is in reality socialism for the rich and capitalism for the poor, who pay. I agree with Stossel that government intervention is a deceptive palliative that fools the people and leads ultimately to collapse. There is no cost to Obama’s stimulus package at all. The cost is to the American people who will suffer depreciation of their currency and assets. This is the monetary realism of government bailout.
    –Bob

  • Dennis Scharp

    I agree with Mr. Livingston, this is indeed a ruse. It would appear that there are a good number of American’s who have been lulled into believing that “Big Brother” the Government can provide everything to everyone. It also appears that the vast majority of Americans, those who oppose Big Government, bailouts, and socialism are turning a deaf ear to all this nonsense and are not demanding that those elected to govern in accordance with the will of the people; a classic example of the tail wagging the dog.
    I fear this recession will soon be replaced by a depression the likes of the 1930′s – Obama, not even in office yet, is setting the groundwork for the return of the WPA; albeit he is avoiding calling it what it truly is. Can the soup kitchens and bread lines be far behind????

  • http://sharonhillsestates.com Sharon Hills

    First, Kozak’s reply is that of the typical liberal…no substance, just insults and name calling. The bailout will just impose higher taxes on those of us who pay too much already. I wonder if Mr. Kozak and Mr. Obama can name one society, country, or like, which has taxed itself into prosperity?

  • Timothy Kozak

    Yes. I probably should not have called him an “Ideological Moron”. A bright guy, but an Ideologue nonetheless.

  • Lynn Sanders

    Not only do I agree completely with Mr. Livingston regarding the so-called “stimulus package” as a socialist smokescreen, but I believe the current administration paved the way when it bought into the “bailout” of just about everyone. I have always been a supporter of President Bush, but I believe that he was sucked into bailing out everyone who made bad decisions out of fear that the economy might collapse on his watch.

    The press has been trying desperately to talk the US into a recession for years, and with a little help from Capitol Hill that has been accomplished. Now, the American People walk into this brave new socialism like lambs to the slaughter, believing that our government is gallantly saving the economy. There will be no objection from the masses who are too worried about the new season of American Idol to worry that our government is gaining too much control of the private sector.

    I do not doubt that America may have been in for some economic hard times, but I cannot buy into the “sky is falling” mentality that seems to have gripped the country.

    What I would like to know is how we can convince the American public that Socialism is not what they want?

  • Kevin Beck

    Let’s remember one thing here. Our President-elect is saying in one breath that tax cuts should go to people at the bottom of the ladder, yet he is proposing all ideas about how to spend money come from the top? I have a great idea, then: How about let the people that drive the economy keep all they earn, and decide how this money should be spent throughout the economic system? Thus, we have top-down economic decision-making, and when the spending gets done we have the whole system benefitting. Just remember that there is a difference between the United States and the United States Government.

  • Lionel Mandrake

    Who is John Stossel? A media whore with no credentials. Only morons would cite him as a source of advice.

    • http://comcast.net sharon brown

      John Stossel is one of the few people that I can call a journalist. He is a Libertatian and he STONLY supports America and American ideals.

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