No new deal

Wall Street Journal

Perhaps you've read — several hundred times by now — that the financial panic means we are returning to a new day of expanding government. Well, maybe not, if the American people are consulted. A new survey by the Kauffman Foundation describes a country that is worried about the impact of the financial turmoil on their lives, but is equally worried about what government might do to fix it. …

The survey, which was conducted by Luntz, Maslansky Strategic Research between September 26 and 29, [showed] that 59% support increased government regulation of the financial markets. Amid the current mess, that's not surprising. But when asked in whom they had the most "faith and confidence" when it comes to guiding the economy, a mere 7% picked "the government in Washington." "The American people," with 25%, was the favorite; "the free market system," with 14%, got twice the support of the Beltway class. The public doesn't seem to be aching for a new New Deal.