I'm sure I'm not the only one who heard echoes of Reagan's first inaugural address in President Obama's speech today. Describing America as a "beacon," referring back to Washington, listing the hallowed battlegrounds where American blood was spilled. As one who promises us a sea change takes his seat, it is fitting and wise to look back at the words of one who delivered on that promise. Read all of Reagan's words here, but pay particular attention to this part:
"This administration's objective will be a healthy, vigorous, growing economy that provides equal opportunities for all Americans, with no barriers born of bigotry or discrimination. Putting America back to work means putting all Americans back to work. Ending inflation means freeing all Americans from the terror of runaway living costs. ...With the idealism and fair play which are the core of our system and our strength, we can have a strong and prosperous America, at peace with itself and the world.
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It is time to check and reverse the growth of government, which shows signs of having grown beyond the consent of the governed.
It is my intention to curb the size and influence of the federal establishment and to demand recognition of the distinction between the powers granted to the federal government and those reserved to the states or to the people. All of us need to be reminded that the federal government did not create the states; the states created the federal government.
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It is no coincidence that our present troubles parallel and are proportionate to the intervention and intrusion in our lives that result from unnecessary and excessive growth of government."
Wise words indeed. As the federal regulatory structure is poised to take a seat on the governing boards of nearly our entire financial industry, and is poised to buffer failing sectors of our economy while failing to create a competitive posture for the future, perhaps our representatives in Congress can have the confidence to understand when helping out doesn't mean bailing out.