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A Happy Federalist No. 57 New Year
By David R. Zukerman, NYC and Winsted
This holiday season offers two sides of an economy: the humane side—lower gas prices and interest rates; and the nasty side—layoffs. Bearing in mind good old Federalist No. 57, which warned about the "ambitious sacrifice of the many to the aggrandizement of the few," I think our Founding Fathers would prefer those lower gas prices and interest rates to the layoffs.
Who would have thought we would again see gas prices closer to one dollar a gallon than two dollars a gallon? One station in Torrington had been advertising gas prices on its outdoor sign that were far below the going rate throughout the Northwest Corner—but that gas station, next to Bachi's Restaurant, has been out of business for some time. Now, gas prices in the area are well below the out-of-date listings that can still be seen at that station. (Which town hereabouts will keep gas prices down as a draw to consumers from miles around?) And who could have thought that credit cards would offer zero interest rates for a time, or rates below 6% to transfer balances? What next? Free money?
But if those words of Federalist No. 57 are truly to have an impact on the economy, I think we need to hear a media person or sports figure declare, upon signing a new contract: "$100 million is a ridiculous amount of money and far out of proportion to my needs. Accordingly, I will agree to one tenth that sum, so that the money can be devoted to the common good."
Perhaps No. 57 is starting to have an impact. United States Senator Fred Thompson (R-Tenn.) is sending out a request for campaign funds that includes $57 as one of the suggested donations. All we need next from Senator Thompson is a vow to treat contributors equally with non-contributors, in the name of the Founding Fathers, and my Christmas will be complete.
Merry Christmas and Happy New Year, everybody, and may God continue to bless America.
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