One of my most vivid memories from 1974 was the gas station at the foot of the hill below my Southern California high school -- car lines snaking out into the street, heralding the failure of the government's price controls and lame ideas such as odd-even rationing. That also was the year President Gerald Ford cooked up an equally goofy plan: Whip Inflation Now, or WIN.
As Ford unveiled WIN to a joint session of Congress on Oct. 8, his bulbous forehead gleaming with sweat, he truly believed he was giving voice to a momentous occasion -- on a par with F.D.R.'s call to action at the depth of the Great Depression. How could he know that, four decades later, people would still ridicule his pleas to farmers to grow more food, to citizens to "drive less, heat less," and --...
Related Topics: Obama administration
Source: http://www.realclearpolitics.com/2011/05/12/inflation_poison_for_obama_in_2012_255339.html
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