What can the Obama administration for libertarians

This morning during my drive into work I started to think about what issues libertarians should push for the Obama administration and the Democrat controlled congress to enact. The one issue I think that could be good for the country and popular with many Democrats is an end to the war on Drugs.

Money spent fighting the War on Drugs could be put into drug rehabilitation programs and harm reduction programs. This would do many things including:

1. Reduce the prison population
2. Improve healthcare
3. Reduce spending on the failed War on Drugs
   

A Washington Post article claims Tom Daschle didn't pay his taxes. Over the past three years Tom Daschle didn't pay $128K he owned. The least you could do, as a proponent of big government is to pay your taxes.

Financial Crisis and Entitlements

We have to be ever more vigilant in times of crisis to make sure that the Federal Government doesn't overstep its bounds. As Congressman Jim Moran states on his website:

From its inception in 1935, Social Security has been a safe, stable, and dependable source of financial assistance for retirees and their families. Today, 95 percent of all workers are covered by Social Security and 6 out 10 seniors depend on it for over half of their total income.

The problem is that Social Security was designed to be a temporary measure to help people who had their retirement saving or pensions wiped out and to encourage people to retire in order to allow younger workers to be able to get jobs. Now all social security does it cause people to take excessive risk with their retirement account, and put a financial burden on younger workers.

We should have gotten rid of Social Security a long time ago, but now it is a sunk cost and people expect it. Had we rid ourselves of Social Security after its immediate purpose was accomplished, we would be able to institute a temporary system to help support retirees that have had there savings wiped out by the current crisis, if we need to. Now we don't have the reserves to be able to do this.

We need to be sure that we don't allow any new temporary programs instituted as a fix for problems during this financial crisis become entitlements.

NY's 20th Congressional District

It has been a while since I've written, but I'm back.

I'd like to take a look at one of the items on the platform of one of the candidates for the 20th District special election in New York, Michael S. Pollok.

The item is regarding mortgage relief and the financial crisis. Mr. Pollok's proposal is the following.

Keep ALL homeowners in their homes by federal restructuring of mortgages based on fair market values and refinancing at fixed rates at 4% or less. This is not nationalization! A New Bank of the United States needs to be chartered to take over these mortgages. The interest going to the treasury.

He goes on further to say:

If a person would like to opt out he may do so and continue paying the interest and principle to the new US Bank. The private banks would be out of the consumer loan business but would be permitted to continue to make commercial loans under very tight regulation.

So to summarize, Mr. Pollok wants to nationalize all mortgages, but not call it nationalization, because he'll create a new private bank. Banks that currently hold the mortgages, well your screwed. This would be a violation of the Fourth Amendment since there would be no due process. Also as a seizure under eminent domain, there must be monetary compensation, which is not discussed at all. You would think that a lawyer would understand this.

Even if this was constitutional, it would be a very bad idea. This new bank would offer loans (and it fact would be the only bank allowed to offer loans to consumers) at arbitraily determined rates without taking into account the risk associated with the loans. Even worse, the bank wouldn't keep any of the interest. How will this help?

Where would the capital for this bank come from? Would the treasury supply it, leading to hyperinflation? What happens when people can't make payments, would the bank foreclose? If not why would people continue to pay? If so, how does this prevent the foreclosure crisis in light of layoff and rising unemployment.

Mark Ellmore is the apparent Republican Candidate

The Washington Post has called the VA 8th District Republican primary for Mark Ellmore. Hopefully mark will be able to defeat Jim Moran, one of the most anti-liberty congressmen.