The government has brought on the housing problem, partly by these very low interest rates, which encouraged many people to go way out on a limb. They've brought it on by highly restrictive building policies, which have caused housing prices to skyrocket artificially. And they've brought it on by the Community Reinvestment Act, which presumes that politicians are better able to tell investors where to put their money than the investors themselves are. When you put all that together, you get something like what you have.
Thomas SowellBarack Obama has not only said that he is out to 'change the United States of America,' the people he has been associated with for years have expressed in words and deeds their hostility to the values, the principles and the people of this country.
Thomas SowellThe only thing better than "hands-on" experience is hands-off experience - enough experience to understand that some things will turn out better if left alone.
Thomas SowellOne of the problems with trying to help underdogs, especially with government programs, is that they and everyone else start to think of them as underdogs, focusing on their problems rather than their opportunities. Thinking of themselves as underdogs can also dissipate their energies in resentments of others, rather than spending that energy making the most of their own possibilities.
Thomas SowellWhen Congress votes for all sorts of benefits, without voting for enough taxes to pay for them, they get the support of those who have been promised the benefits, without getting grief from the taxpayers. It's strictly win-win as far as the welfare-state politicians are concerned. But it is strictly lose-lose, big-time, for the country, as deficits skyrocket.
Thomas Sowell