Fischmann: Smart regulation is key to a strong economy

From NM Politics.net - By Steve Fischmann - Politicians on the right tell us that cutting government spending, ending the “nanny” state and reducing taxes are the keys to righting all of our economic woes. From the left we are told that stimulus spending, funding major social programs, and raising taxes on the rich is the road to job creation and fixing the economy. Washington wages war over the budget and the theatre is riveting as politicians play Russian roulette with our future by putting U.S. credit worthiness at risk. We’re so transfixed by this iconic battle between left and right that we seem to have forgotten what precipitated our current economic woes in the first place. It wasn’t lazy welfare cheats, and it wasn’t ridiculously generous tax breaks to the wealthy – though neither helped. It was lack of commonsense regulation in the financial markets. Read more