“…the postwar welfare state that took shape in the 1930s and 1940s and extends to the present… is now in the process of breaking up.” [My italics]
And… there is no stopping it.
This breakup, inevitable to be sure, has been greatly accelerated by recent Administrations, especially the Obama Administration “…because they respond to constituent pressures, lobbyists, and campaign donors, are incapable of allocating capital on a rational or disinterested basis; [and] allocate funds on the basis of political rather than economic signals. Private investors, whatever their flaws, do a far better job of allocating capital than modern governments could ever do.” Witness the rapidly deteriorating fiscal and moral state of America today, savaged by an ideology that has displaced liberal thought with purely partisan ambition. – Quotations from Shattered Consensus, Encounter Books, New York, London, Copyright © 2015 by James Piereson, Pages xiv and 26.