Any one bailout, tax cut, or similar would have been fine; indeed, orthodox. But it was not “just one”; the crisis was not so much acute as it is ongoing, beginning with the S&L disaster of the mid-1980s and continuing with the LTCM emergency of 1998, the dot-com crash of 2000, and the housing and financial panics of 2008. And yet, over years of Boomer control the response has always been the same: more deregulation, more spending, lower taxes, and no adequate structural reform during the windows of opportunity between scandals.
