Liberty Maven

What do the Federal Reserve and the Democrats’ health care reform proposals have in common? No, it’s not the start of a bad joke nor a rhetorical question. It’s all about the role of government.

Some question whether or not the Federal Reserve is a government entity. I don’t. It has government written all over it. It was created by the government and, like most government creations, it is a failure.

Congress created the Federal Reserve primarily to stabilize the dollar and the U.S. economy. Prior to the creation of the Fed the dollar was relatively stable. Following the creation of the Federal Reserve the dollar has declined nearly every year, but especially since the early 1970′s. By this rather essential measure, the Federal Reserve is a colossal bust.

Over 100 Democrats have co-sponsored Ron Paul’s bill to audit the Federal Reserve. They agree with Paul that the Fed is a monumental failure. Yet many of these same Democrats somehow believe that the government can effectively provide health care for a majority of Americans.

Let’s make an assumption (a seemingly unlikely one these days) that the Democrats’ version of health care reform passes in the next few months or few years. I wonder if 100 years from now there will be a giant bipartisan effort to audit and/or end government health care after it proves to be an expensive failure. I hope we never have to find out.

Let today’s failed Federal Reserve be a warning about what the future likely holds for health care reform, should it become law. Both are perfect examples of expensive and unconstitutional efforts that purport to do good, but in the final analysis, do the most harm to those they aim to help.

The Federal Reserve makes the poor poorer through the “inflation tax”. As the Fed prints more money each dollar becomes less valuable and will by fewer goods. Poor Americans are hurt the most by this because they don’t own as many dollars as the rich.

The proposed government health care reforms hurt the people required to use it the most. There will be rationing and long waiting lists. Additionally, innovative procedures will be disallowed due to their risk and expense. We can make this claim based on America’s long history of failed government programs and the high demand that the new government health care system would generate.

Haven’t we learned by now that when it comes to government-granted wishes… you’d better be careful what you wish for?