Americans are not prepared for the necessary pain of withdrawal from the virtual reality lifestyle to which they have become accustomed. But unless a full catharsis is allowed to take place, all of the government intervention of propping up failed companies and failed individuals will result in nothing more than rebuilding a house of cards. The pain has to come. Does Obama get this, and will he act in the best interest of the nation, or with 2012 on his mind? I think that answer is clear. We've either got to take a quick painful shot in the rear, or hold off until we need extensive surgery and a long, painful recovery. As much as I hate needles, I opt for the shot.
This op-ed from WSJ lays it out ever so clearly.
10 hours ago