Carter The Conseservative

A Cato Institute (read libertarian) expert writes:

Conservatives condemn Carter's ineffectual foreign policy, but his successful stewardship of the Camp David Accords made him the best presidential friend Israel's ever had. At home, by serially deregulating airlines, trucking and railroads, the man from Plains broke special-interest strangleholds over transportation, helping usher in the dynamic, competitive economy of the '80s.

To tame soaring inflation, Carter appointed tight-money man Paul Volcker as Federal Reserve chairman, and, at great political risk, grit his teeth through the deepening recession.

"Because of Carter's fear of exacerbating inflation," [author Ivan] Eland adds, "he courageously refused to support an expensive proposal by Senator Edward Kennedy to provide federally funded national health insurance for all Americans."

Hat tip to Andrew Sullivan

All Fall Down

Paul Volcker says that because of the uniformity and speed of the global decline, the current crisis may be worse than the Depression.