A complete repost from Kids Prefer Cheese:
From KPC uber-friend Pelsmin:
In Obama's statements about the dangers of a shutdown, he ranted about how the economy would be crushed if the Federal Government stopped its work. He then gave a list:
- People couldn't sell their homes to other people.
- Small businesses couldn't secure loans to expand
- Companies couldn't proceed with new plants or expansion plans.
He is basically arguing that individuals can't engage in private transactions with each other unless the Federal Government is there to let it happen.
The scary thing is, he may be right.
- FHA handles 40% of all home purchase mortgages
- SBA and other programs make up a large proportion of small business loans
- EPA has a choke hold on any plant expansion and "environmental impact" hurdle that must be cleared before a factory can be built.
I guess the scary thing isn't that he believes this to be the case, but that he's comfortable with the fact that it IS the case.
It is interesting: for our President, the government actually IS the economy.
If this is true, the man is profoundly ignorant.