Sam Donaldson: Socialism Has Washed Over Capitalism

ABC's Sam Donaldson has validated Joe the Plumber's worst fears: socialism has indeed washed over capitalism.

Maybe worse, Donaldson is clearly less unhappy about this than our new campaign spokesman from Ohio.

Such appeared to be the case when the former White House correspondent published a rather ominous commentary at ABCNews.com Tuesday both in written and video form (emphasis added, h/t Extreme Mortman via Glenn Reynolds):

Yes, socialism has now washed over free market capitalism and only a very brave, or foolhardy few would protest.

The federal government has nationalized the banks, the U.S. Treasury and Federal Reserve doors have opened wide and taxpayer money flows faster than quicksilver, and this week, the presidential candidates have each come up with new, immediate relief plans that have the government intervening in a way that costs a lot more money. The candidates have realized, late, but finally, that the economic pain Americans are feeling must be felt now -- thank you, Bill Clinton -- not next January when one of them becomes president. [...]

Make no mistake; we are living in a new age. Just as we will never go back to a pre-9/11 security mentality, we will never go back to the free market, deregulated economic policies in the same degree that brought us to this crisis.

Doesn't Sam seem to be smiling in the video?

Noel Sheppard
Noel Sheppard
Noel Sheppard, Associate Editor of NewsBusters, passed away in March of 2014.