In which year did the G8 become the G7, when Russia was expelled? Some US diplomats were evacuated from which country this week? Which world leader just held his annual televised Q&A? Find out the answers to these questions and more – and see how other GPS viewers did – by taking this week's quiz here: cnn.com/fareedquiz |
The notion that the 2008 recession was caused largely by the private sector is correct but incomplete. Congress forced private lenders to make loans to unqualified borrowers. No question the banks took on far too much risk, a major factor BUT if borrowers paid their mortgages there wouldn't have been a meltdown. On an individual and personal level everyone knows someone who defaulted and understands how the defaulter lived their life. People understand that a combination of bad individual judgement coupled with progressive government policy was as much a cause of the recession as the banks. Coupled with high tax rates and poor government efficiency and effectiveness many voters have given up after 50 years of great society policies and are returning to more fundamental values that put individual decisions and effort in front of collectivist beliefs. The left must acknowledge their failures and the massive failure of socialism globally, accept the reality that sometimes government can't solve problems and feature individuals and families more prominently in their viewpoint. The attacks on business and the wealthy must stop. Everyone understands who pays all the bills rung up by progressives. Identity politics target too narrow a portion of the electorate and is a losing approach. Somehow all the lessons of government limits learned over the years and acknowledged by Bill Clinton have been lost by Democrats. Unless we see change we're going to continue to shift to the right.
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