Wednesday, August 01, 2012

Our Weak Government

Via Ezra Klein, an article on the refusal by the overseer of Fanny and Freddy to okay a plan to offer forgiveness of housing debts.  I know very little about the pros and cons of the policy which Mr. DeMarco is rejecting, other than a number of liberal economists think it's a good idea.  DeMarco seems to argue it would be bad in the long run, which as a bureaucrat he doesn't like.

Instead of worrying about the policy, I just want to point out another instance of our weak government.  Whereas in a parliamentary system there'd be no problem in the prime minister getting such a policy executed, in our system there's a hurdle.  DeMarco has an independent source of power, making it difficult for the President to make a policy change.  This isn't a case of federalism, which is what I usually point to when I write about weak government, but structure at the national level.  But  both federalism and structure reflect our suspicion of governmental power, typical of the American society.

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