Was George Bush an Idiot??????
Before you answer with a resounding yes, read this through.
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Books, Life, Computing, Politics, and the tracks of the domestic Moose through hill, dale, and lovely swamp.
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For Meltzer, the courageous, damn-the-sages stance that Thatcher took three decades ago should guide President Obama today. "If Obama announced a strategy to deal with the long-term debt and stopped doing things to increase the uncertainty that businesses face, it would do a great deal to stimulate the economy," declares the 82-year old Meltzer.
Today, the administration is pursuing a totally different policy. It's sharply raising expenditures when the U.S. already faces gigantic, chronic deficits that barely shrink even in a recovery, and burgeoning debt. "Keynes specifically warned against structural deficits when both U.S. and British economists were pushing for them at the end of World War II," says Meltzer. "He never said that more spending on top of chronic deficits was a stimulus. Just the opposite, in fact."
The rub is that the shadow of inexorably rising debt, with no plan to curb it, isn't a stimulus at all, but a heavy depressant. The solution is to sharply reverse course and bring the budget into balance over the next decade. That solution will require either a 50% increase in taxes, a 35% reduction in spending, or some combination of the two. The weight should fall heavily on the spending side.
The language of the new anti-statists, like the language of the 1950s' right, regularly harks back to the U.S. Constitution and the Founders in calling attention to perceived threats to liberty.
A group called Tea Party Patriots (many Tea Party groups include the word "patriot" in their names) describes itself as "a community committed to standing together, shoulder to shoulder, to protect our country and the Constitution upon which we were founded!" Tea Party Nation says it is "a user-driven group of like-minded people who desire our God given Individual Freedoms which were written out by the Founding Fathers."Wow, what a radical group! Harking back to the Constitution and Founding Fathers. Radical!
Thus has Obama brought back to life a venerable if disturbing style of conservative thinking. In the short run, the new movement's energy threatens him. In the long run, its extremism may be his salvation.Even though it is the state that has coercive powers and was correctly identified by Hobbes as a "Leviathan" in 1660, not to mention the 20th century with the states of Germany, USSR, China, N Korea and Cambodia killing 100's of millions of people, EJ remains completely convinced in the benevolence of this monster, as well as of the horror of individual freedom protected by a written Constitution.
Democrats should feel a lot better than they do. They enacted a health care bill that had been their dream for more than 60 years. They pulled the country out of a terrifying economic spiral. They are on the verge of passing the biggest reform of Wall Street since the New Deal. The public has identified enemies that are typically seen as Republican allies: oil companies and big bankers. And given the Republicans' past policies, the Gulf oil spill is at least as much their problem as Obama's.So the health care bill was "their dream for 60 years". Why should that make them feel good about being re-elected? That is a completely separate topic. If some guy dreamed about having a relationship with a 16 year old girl for 60 years and finally did (he would be at least 70 assuming he started dreaming of "older women" at 10), should he "feel good about it"? Democrats may think a government takeover of health care is just peachy, but essentially, given their operation in the Senate after Scott Brown, they would be like the underage girl dreamer that only accomplished his task by forceable rape rather than just statutory. One clearly has to be a Democrat to understand why that ought to make you feel good!
Obama is often criticized for being too professorial. The irony is that Republicans who have little to say about how to solve the nation's major problems are dominating the country's underlying philosophical narrative.There we have it in a nutshell. A Democrat simply can't conceive of the fact that it is GOVERNMENT that OUGHT to have "little to say about how we solve the nations major problems". It is THE PEOPLE that ought to have A LOT to say! EJ is precisely right that the difference is in the "philosophical narrative". The idea that solutions come top down is European, the idea that they come bottom up is American!
Let's stop and think. Either the government knows how to stop the oil spill or they don't. If they know how to stop it, then why have they let thousands of barrels of oil per day keep gushing out, for weeks on end? All they have to do is tell BP to step aside, while the government comes in to do it right.
If they don't know, then what is all this political grandstanding about keeping their boot on the neck of BP, the attorney general of the United States going down to the Gulf to threaten lawsuits - on what charges was unspecified - and President Obama showing up in his shirt sleeves?
If leaders of other nations can't depend on the United States, then they need to make the best deal they can with our enemies. They understand that preserving their nation's security is a leader's top priority, even if Barack Obama doesn't.