Quotes of the Day: George Will
From George Will's column today:
Suppose there had never been implicit government backing of Fannie Mae and Freddie Mac. Better yet, suppose those two had never existed -- there was homeownership before them, just not at a level that the government thought proper. Absent Fannie and Freddie -- absent government manipulation of the housing market -- would there have developed the excessive diversion of capital into the housing stock?
The entitlement mentality fostered by the welfare state includes a felt entitlement to a standard of living untethered from savings.