The lesson of the S&P downgrade is that government is the problem, not the solution. The bailouts, quantitative easing, stimulus and excessive spending have done little, if anything, to ease our economic woes. What they have done is add political uncertainty.
Washington needs to back off and stand down. The only way out of the current mess is a principled commitment to smaller government, coupled with deep, structural cuts in entitlement spending and defense.
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