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PALM SPRINGS, Calif. — In just a few weeks time, California hits the wall.
And Americans should take a good, long look at the fiscal and social wreck of the Golden Land, because California is at a place to which all of America is heading.
In May, when five fund-raising proposals were put on the ballot, Gov. [...]
Filed under: Economics, Immigration, Politics
Matt Yglesias wrote a good article for the The American Prospect warning leftists that Obama Administration’s ambitious agenda in these bad economic times cannot survive unless more tax revenue is brought in. Indeed, one would have to see an almost miraculous turnaround in the economy by the end of the year and well into 2010 [...]
Filed under: Economics
It shouldn’t be surprising that just a few months after hearing that the Obama Administration might not be able to fulfill its hopes for a “civilian surge” in Afghanistan due to a lack of interested/experienced American personnel, we now hear of Drug Enforcement Agency pilots being coerced — some say forcibly and illegally — [...]
Filed under: Economics, Foreign policy, Iraq, War
We’re a little late linking to this video of the House Financial Services Subcommittee on Oversight and Investigations hearing of May 5. But it’s well worth watching—especially by anyone not yet backing Rep. Ron Paul’s bill calling for an audit of the Fed.
Rep. Alan Grayson (D-Fla.): Have you reached any conclusions about the Fed expanding [...]
Filed under: Economics
William Voegeli of the Claremont Institute presents a sterling example of a movement con who doesn’t know how to use a mirror:
The danger liberalism poses to the American experiment comes from its disposition to deplete rather than replenish the capital required for self-government. Entitlement programs overextend not only financial but political capital. They proffer new [...]
Filed under: Conservatism, Economics
The murder of Kansas abortionist George Tiller has sent the media into a frenzy about antiabortion activism and the culture wars. But does the Tiller killing have as much to do with the peculiarities of Kansas itself as with the abortion? My review of Thomas Frank’s What’s the Matter With Kansas, from 2004, has been [...]
Mish Shedlock explains:
At every crisis, the Fed stepped on the gas inflating the economy. Unions benefited as wages rose along with the price of everything. However, eventually there comes a time when no one is willing to pay those wages. That has obviously happened. Yet because or the Fed’s expansionary policy, prices of houses and [...]
Filed under: Economics
I agree with Ross Douthat about one thing: the tea parties resemble the antiwar protests of 2002-2003. But that’s not a good thing. Douthat correctly points out that the antiwar marches were probably counterproductive, boosting support for Republican hawks in the 2002 midterms and 2004 presidential election. (The American people don’t like prolonged wars, as [...]
Filed under: Conservatism, Economics, Politics, Uncategorized, War
The New York Times takes note of Sean Scallon’s recent TAC essay oon the conservative side of Jimmy Carter. He was no Wilhelm Roepke, of course, but Carter’s “malaise” speech included some quite Roepkian socio-economic ideas. Scallon’s story, as well as Dermot Quinn’s new essay on Roepke, is a timely reminder of the “demand” side [...]
Filed under: Economics
For the financial crisis that has wiped out trillions in wealth, many have felt the lash of public outrage.
Fannie and Freddie. The idiot-bankers. The AIG bonus babies. The Bush Republicans and Barney Frank Democrats who bullied banks into making mortgages to minorities who could not afford the houses they were moving into.
But the Big Kahuna [...]
Filed under: Economics