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Krugman: Nobody Understands Debt (Least of All, Me)

“So last week I switched to a fixed-rate mortgage. It means higher monthly payments, but I’m terrified about what will happen to interest rates once financial markets wake up to the implications of skyrocketing budget deficits. . . . But what’s really scary – what makes a fixed-rate mortgage seem like such a good idea – is the looming threat to the federal government’s solvency. . . . My prediction is that politicians will eventually be tempted to resolve the crisis the way irresponsible governments usually do: by printing money to pay current bills and to inflate away debt. And…

Obama's Efforts to Woo Youth Little More than Election Year Ploys

Here we go again. If there’s one thing more predictable than a Tim Tebow fourth-quarter touchdown drive, it’s a President Obama hail-mary to attract youth support. Sensing disaffection amongst his once rabid fans, the Obama political team has sprung into action to try and shore up support. First came the announcement that Obama was creating the “Greater Together” initiative, which sounds a lot more like a certain 1960s-era flower-power song than a serious attempt to woo millenials. I mean really, could these lyrics from The Turtle’s “Happy Together” be any more apt, “If I should call you up, invest a…

Moneyball – What Washington Must Learn From Billy Beane

The United States was once the Yankees of the world. We had the money, we had the name brand, and although we didn’t have the pinstripes, we had the stars and stripes. But after years of spending beyond our means we’ve taken a tumble from our lofty perch. We’re now the equivalent of the Oakland A’s, a small-market team, who has to do everything they can with less. I finally got around to watching Moneyball, the movie based on the work of A’s general manager Billy Beane. It was an incredible movie, one of the best sports flicks I’ve seen….

Obama in Wonderland – Why Lavish Vacations and Parties Undermine His Calls for "Shared Sacrifice"

“Why is a raven like a writing-desk?” “Have you guessed the riddle yet?” the Hatter said, turning to Alice again. “No, I give it up,” Alice replied. “What’s the answer?” “I haven’t the slightest idea,” said the Hatter. It’s a riddle with no answer and is completely (if wondrously) nonsensical. Kind of like the Obama’s decision to throw an extravagant Alice in Wonderland-themed Halloween Party at a time when so many are struggling. Worse, so as to avoid the tough optics of throwing at a lavish party in the deepest depth of a recession, the White House shared few details…

As the Left's Redistributionist System Grows, So Too Do Its Problems

Although they would no doubt disagree, by and large liberals have succeeded in one of their most basic fundamental missions – they have turned the federal government into a remarkably large redistributionalist system. The programs of Lyndon Johnson’s Great Society – Medicare, Medicaid, federal education funding  – grow with each passing year. Myriad New Deal programs continue in perpetuity – the Federal Housing Administration, the Tennessee Valley Authority, the National Labor Relations Board, the list goes on. And that doesn’t begin to scratch the surface. One need merely glance at the Government Accountability Office’s recent report on duplication to get…

Why Obama's Cool Reaction to December Job Numbers is Telling

“It’s morning again in America.” That was the signature line from President Ronald Reagan’s famous campaign ad during his 1984 reelection bid. The message was perfect in its simplicity – that Reagan’s conservative policies had brought American out of the darkest depths of a recession and into the light of a new day.   The fact is, the strength of the economy is generally the first thing a president will cite in his reelection bid. Which brings us to a curious situation. Friday’s job numbers seemed to be the strongest evidence yet that the economy is gaining steam. And yet,…

Sebelius Ignores Higher Premiums, Defends Obamacare's "Cost Saving" Provisions

Health and Human Services Secretary Kathleen Sebelius has been doing her best recently to make the case that the Affordable Care Act is, well, making care affordable. The problem is, it hasn’t, a fact which somewhat complicates Sebelius task. Nevertheless, she gives it the good ol’ college try in a Washington Post op-ed last Thursday. The article, entitled “The Affordable Care Act, helping Americans curb health care costs,” explains a very real problem and gives three very bogus solutions contained in Obamacare. “The rising cost of health insurance coverage has imposed a heavy burden on our nation,” Sebelius rightly states….

In Race for Second Term Obama Prioritizes Politics Over Constitution

It was another bad week for the Constitution. Article 2, Section 2 of the Constitution states: “He Shall have Power, by and with the Advice and Consent of the Senate, to make Treaties, provided two thirds of the Senators present concur; and he shall nominate, and by and with the Advice and Consent of the Senate; shall appoint Ambassadors, other public Ministers and Consuls, Judges of the supreme court, and all other Officers of the United States . . . The president shall have Power to fill up all Vacancies that may happen during the Recess of the Senate, by…

Mayan Prophecy or Not, Democrats are Spending Like There's No Tomorrow

It’s the end of the world as we know it and I feel fine. Or so said R.E.M. At least they had the courtesy to turn their apocalyptic predictions into a catchy tune. Unfortunately, we weren’t so lucky in 2011, when Harold Camping incorrectly predicted (twice, we might add) the end of the world based on his flawed reading of the Bible. But if you grew weary of 2011’s doomsday talk, brace yourself for 2012, the year the Mayan’s famed calendar runs out. Heck, Hollywood was so excited about this particular end-of-the-world prediction that they already made a movie entitled…

Top 5 Under-Covered Stories of 2011

Thomas Jefferson once said, “The man who reads nothing at all is better educated than the man who reads nothing, but newspapers.” And although that view may be a tad extreme, a healthy distrust of the mainstream media is required in this day and age. Reporters, who at one time reveled in their unbiased recitation of the facts, now do more to make the news than to break the news. As a result it’s often difficult to separate fact from fiction, hard to determine whether the story reflects the reality, and nearly impossible to learn of things the news simply…