By Casey's Daily Dispatch:

...the U.S. economy is increasingly being taken over by government. And while the Democrats, led by loathsome populists such as Nancy Pelosi and Barney Frank, are worthy of being held in especially low regard, the track record of modern-day Republicans offers no hope either.

And so, the “solutions” being proposed almost entirely focus on more government, more regulation, more spending, and more taxes. In other words, pretty much the exact opposite of what the economy now needs.

The debt levels of this country are still at record levels, but yet the government’s grand scheme is to ratchet those debt levels even higher. It is doing so by offering cheap money, incentives to take mortgages that people can't afford, and by running trillion-dollar-plus deficits of its own.

So we have a morally, philosophically, and financially bankrupt government, encouraging a morally, philosophically, and financially bankrupt public to place even more faith in the ability of said government to lead the nation on to greener pastures.

And to do so largely by borrowing trillions of dollars to dump back into failing institutions and make-work projects, and by levying yet more taxes on businesses and high-income earners – who, it should be noted, are already paying a record percentage of total federal tax receipts (the top 5% now pay over 60% of all taxes).

Crux Note: Casey's Daily Dispatch comes free with a subscription to a Casey Research advisory service. You can learn more about their flagship service, The Casey Report here (highly recommended).

More from Casey Research:

The Ted Kennedy obituary you didn't read... but should

The best thing on why America is screwed you'll read all month

The best thing you'll read this week about the health care debate