It's not a strawman, you just have no counterargument because it's true: if there are no safety nets, some unlucky people WILL make mistakes and end up in absolute poverty. There is no way to dispute that.
Your assumption being that if there is no government safety net there is no safety net, as blaktron said:
The idea that just because you take a job away from the Federal Government that it just stops getting done is ridiculous, naive and plain stupid.
It gets worse: technically, under the European Arrest Warrant rules, any EU country can have you arrested and sent to them for acts illegal in that country (e.g. Hungary) but "committed" in another (e.g. Britain).
Not exactly what most people think the a European Arrest Warrant is for, is it?
Ah, but in a judicial law system traditions and precedents can be overturned in one ruling by a judge deciding that it no longer, or never did, make sense.
While the world clamours for "clarifying" legislation (which will just produced question marks over something else) we should be really praying for test cases like this.
In the end it is only a Supreme Court that can really screw up the law with a bad interpretation of legislation. Once the Supremes have ruled new legislation is required to overturn it (unless a new set of Supremes decide to revisit it). There really should be a mechanism by which lower courts can begin to treat Supreme Court rulings as simple precedents again after a certain period of time.
In the US, of course, there is one particular Supreme Court ruling that ensures that will never be considered.
Re: And another thing... SOPA vs Robin Hood vs Skynet
Fewer more considered transactions with a level of diligence attached ironically mean more stable markets.
Not true: those fewer transactions will also be large and unbalanced by lots of smaller transactions - which would be economically unviable. Fewer, larger, transactions leads to more volatility not less.
If you want to hold up the BBC as something to emulate in a "Ministry of Truth" you might want to find out how true people think there "truths" are. Googling "bbc truth" returns a link to http://biased-bbc.blogspot.com/ on the first page.