The Treasury Department and the Federal Reserve are giving U.S. financial institutions an additional six months to comply with regulations designed to ban Internet gambling.
The two agencies said Friday that the new rules, which were to take effect on Dec. 1, would be delayed until June 1 of next year.
A key Democratic opponent of the ban on online gambling praised the action and said it would give Congress time to overturn a law passed in 2006 when Republicans controlled Congress.
So the Republicans, which used to be the party of small government, individual responsibility, and getting government off the backs of the people, passed this nanny-state law. And the Democrats, who feel you're not capable of making any decision without Uncle Sam's oversight, permission, and involvement, want to overturn this ban--Sam will give you "free" health care so you can blow your money playing online poker.
Our political class has lost it. Is there no one with any common sense working in the Congress or White House? I fear the answer is "no, there is not."
The Republican Party has long been split between its libertarian and its authoritarian roots. Particularly on "sin" issues, such as sex, gambling and porn, the authoritarian, religious wing of the party differs strongly from the "small government" side of the fence. Indeed, the only way in which they all agree on small government is in terms of taxation. And, at the moment, the religious/authoritarian side of the party seems to be in the ascendance, with the likes of Palin and this new ridiculous "Reagan Test".
ReplyDeleteThis split between the "Western", Goldwater wing of the Republicans and the "Southern", religious wing was part of the thesis of the book The Right Nation, which I thoroughly enjoyed.
ReplyDeleteThe authors of that book had Reagan in the Western Wing, with which I agree.
I completely agree with you on this one, Darren. I was baffled by the "religious right" objection to this. Liberty is liberty, even if that means liberty to lose your ass in on-line gambling. That's why I tend to vote Libertarian when both parties piss me off.
ReplyDelete