George W. Bush Warns Ivanka Trump of the Dangers of Nepotism
OK I made that up to make sure you were paying attention. The real story is almost as good (HT2 Tony Garcia):
Bush warns of threats to freedom, economic growthFormer President George W. Bush, outlining plans for a new public policy institute, on Thursday said America must fight the temptation to allow the federal government to take control of the private sector, declaring that too much government intervention will squelch economic recovery and expansion.
With the Obama administration establishing far-reaching controls in the auto, real estate and financial sectors, Mr. Bush said that “the role of government is not to create wealth, but to create the conditions that allow entrepreneurs and innovators to thrive.”
“As the world recovers, we will face a temptation to replace the risk-and-reward model of the private sector with the blunt instruments of government spending and control. History shows that the greater threat to prosperity is not too little government involvement, but too much,” said Mr. Bush, who has remained largely out of the limelight since leaving office and rarely criticizes his successor.
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“Trade has been one of the world’s most powerful engines of economic growth, and one of the most effective ways to lift people out of poverty. Yet a 60-year movement toward trade liberalization is under threat from creeping protectionism and isolationism,” Mr. Bush said.Mr. Bush did not cite his successor by name, but many of his warnings seemed directed at policies Mr. Obama has embraced.
In one of his first major decisions on trade policy, Mr. Obama in September imposed a tariff on tire imports from China, making good on a campaign promise to the United Steelworkers union to “crack down” on imports that hurt American workers and industries.
Besides the obvious examples of hypocrisy, let’s not forget that even on the narrow issue of protectionism, Bush enacted steel tariffs in 2002. But they were temporary so it was all good.
