Greg Prince's Blog

Musings and pontifications from a reality based progressive

GOP criticizes Democrats for wanting to address the economic crisis, fails to see self parody

Posted by Greg on April 2, 2009

By now many people have reviewed Eric Cantor’s idiocy on the Democratic economic proposals.

“As far as Rush, Rush has got ideas. He’s got following. He believes in the conservative principles that many of us believe in –- of lower taxes, of making sure that we turn back towards a focus on entrepreneurialism in this country, to promoting innovation and not stamping that out by over-reacting, if you will, which this town often does, to crisis.”

John at Americablog raises a couple of good points.  First off, saying that the Democrats are wrong to prioritize the economy probably isn’t “on message” for what the American public wants to hear these days.  Second, after all the whining about Rush Limbaugh not being the leader of the national GOP, it looks more than a little foolish for the number two guy in the House to keep referring to “Rush, Rush.”

But there’s something else here that merits some attention.  The Republicans speak of turning back toward a focus on entrepreneurialism in the country.

Perhaps a primer is in order on what “entrepreneur” means because it ties in to what has happened with the economy, the banking and Wall Street crashes, etc.

To be an entrepreneur typically means to employ some creative force and initiate, but even more so it means to manage and organize and most of all TO ASSUME RISK.

You understand the difference between entrepreneurship and what has been taking place in our large corporations and especially in banking, insurance and finance?  Patrons of privilege play with other people’s money as if it were a parlor game, assuming no risk to themselves of the consequences.  Stock goes up?  You get a salary and bonus.  Stock goes down?  You get salary and a bonus.  You make indefensible business decisions?  You get a salary and a bonus.  You drive a sector into bankruptcy and crisis?  You get a bonus.

These are the people the GOP has been protecting, and these activities are about as far from the entrepreneurial backbone of the economy as you can be.  Privatizing the profits and socializing the losses is not sustainable as government policy, and should never be attempted to begin with.

Obama needs to stick to his guns and the reconcilliation process is a wonderful tool wherever applicable, but it’s just as important to control the debate.  The Democrats can not afford to let the GOP redefine such essential terms and the principles they represent to cloud the history and distract people from what has really occurred.

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