This morning’s Wall Street Journal reports that GMAC financial services is asking the government for another bailout of up to $5.6 billion. Here we go again.

This is yet another example, if our government ascedes to the request, of the government taking by force, from the producers, money to selectively help one industry. You would think that they would have figured out by now that tripling the national deficit by bankrupting the future isn’t the way to grow the economy.

Here’s how you grow the economy: get the government out of the way. Reduce or eliminate mindless regulation that slows the growth of small businesses. Reduce the confiscatory tax system that says to “the producers” the better you do the more we take.

I recently spoke to a young lady whose husband is a small business entrepreneur who was trying to navigate the District of Columbia’s byzantine regulatory system just to be able to establish his business there in order that he could generate income for his family and higher others to work for him. She told me that she had spent a day and a half trying to figure out all of the things that needed to be done just to get this rather simple business “approved” by the government.

If the reduction in regulation and taxation of small businesses took place in each small business was unable to hire one additional person who would cure the unemployment problem. The answer certainly is not to fund GMAC and its ilk with my money.