Tag Archives: Debt

The Troubling Plight of the Modern University

Today’s campus is more reactionary than the objects of its frequent vituperation.
by Victor Davis Hanson // National Review Online

When Failure Is Success

For Obama’s supporters, what matters is not what he does, but what he says and represents.

by Victor Davis Hanson // National Review Online 

Losing a job is freedom from job lock. A budget deficit larger than in any previous administration is austerity. A mean right-wing video caused the deaths of four Americans in Benghazi. Al-Qaeda was long ago washed up. The Muslim Brotherhood is secular. Jihad is a personal journey. Shooting people while

Preston Kemp via Flickr

Preston Kemp via Flickr

screaming Allahu akbar! is workplace violence. Unaffordable higher premiums and deductibles are the result of an Affordable Care Act. Losing your doctor and your health-insurance plan prove you will never lose your doctor and your health-insurance plan — period! Being a constitutional lawyer means you know how to turn the IRS and the FCC on your enemies. Failure is success; lies are truth.

President Obama’s polls are creeping back up again. They do that every time the latest in the series of scandals — the IRS, AP, NSA, Benghazi, and Obamacare messes — recedes into the media memory hole. The once-outrageous IRS scandal was rebranded as psychodramatic journalists being outraged. The monitoring of AP reporters and of James Rosen is mostly “Stuff happens.” The NSA octopus was Bush’s creation. You can keep your doctor and your health plan — period — begat liberation from “job lock” and the ability to write poetry because you don’t have to work.

There will be more momentary outrages on the horizon, as a president who would fundamentally transform America continues to circumvent the Constitution to do it. The latest are the failed efforts of acting FCC director Mignon Clyburn — daughter of a Democratic stalwart, Representative James Clyburn. She dreamed about monitoring news outlets to ensure that they prove themselves correct in matters of race/class/gender thinking. Read more →

Governing by Pen and Phone

Obama used to sigh that he was not a dictator who could act unilaterally. No more.

by Victor Davis Hanson // National Review Online 

Lately a weakened President Obama has fashioned a new attitude about consensual government: “We’re not just going to be waiting for legislation in order to make sure that

picture by Moyan Brenn on Flickr

picture by Moyan Brenn on Flickr

we’re providing Americans the kind of help they need. I’ve got a pen and I’ve got a phone,” Obama boasted Tuesday as he convened his first cabinet meeting of the year. At least he did not say he intended to govern by “pen and sword.” If Obama used to sigh to supporters that he was not a dictator who could just implement progressive agendas by fiat, he now seems to have done away with the pretense of regret.

Obama has all but given up on the third branch of government since he lost control of it in 2010: “And I can use that pen to sign executive orders and take executive actions and administrative actions that move the ball forward in helping to make sure our kids are getting the best education possible, making sure that our businesses are getting the kind of support and help they need to grow and advance, to make sure that people are getting the skills that they need to get those jobs that our businesses are creating.”

There are lots of creepy things about such dictatorial statements of moving morally backward in order to go politically “forward.” Concerning issues dear to the president’s heart — climate change, more gun control, de facto amnesty, more massive borrowing supposedly to jump-start the anemic, jobless recovery — Obama not long ago had a Read more →

The Obamacare Generation

The ACA depends on Millennials picking up the tab — as they already are for other entitlements — in the midst of a bad economy.

by Victor Davis Hanson // National Review Online 

There are all sorts of time bombs embedded within Obamacare.

Will we force doctors to treat the millions of new Medicaid patients who are signing up for services that can be only partially reimbursed? How exactly will the IRS collect penalties from millions of off-the-books youth who choose not to buy coverage? Read more →

The Progressive Reality Is Here

by Bruce S. Thornton // FrontPage Magazine 

The Republicans are feeling confident these days. The slow-motion debacle of Obamacare promises to keep that albatross around the necks of the Democrats at least through next year’s midterm elections. The IRS, NSA, and Benghazi scandals are still simmering, and any day new information may emerge that puts them back on the front page. Obama’s disapproval rating is at 53.4%, according to the RealClearPoliticsaverage of 11 polls. The Republican Party’s approval numbers are still lower than Democrats’, but they are trending up while the Dems are moving down. Read more →

Ignoring History: The Folly of Our Iran Pact

Dictatorships abandon treaties when they become inconvenient.

by Victor Davis Hanson // National Review Online 

According to our recently proposed treaty with the Iranian government, Iran keeps much of its nuclear program while agreeing to slow its path to weapons-grade enrichment. The Iranians also get crippling economic sanctions lifted.  Read more →

America’s Wilderness Years

by Victor Davis Hanson // PJ Media 

Most two-term presidents leave some sort of legacy. Ronald Reagan won the Cold War. George W. Bush prevented another 9/11, and constructed an anti-terrorism protocol that even his critical successor embraced and often expanded.

Photo Credit: Bureau of Land Management via FlickrEven our one-term presidents have achieved something. JFK got Soviet missiles out of Cuba. LBJ oversaw passage of civil rights legislation. Jerry Ford restored integrity to the White House. Jimmy Carter finally issued the Carter Doctrine to stop Soviet expansionism at the Persian Gulf. George H.W. Bush won the first Persian Gulf War and got Saddam Hussein out of Kuwait.

And even our impeached or abdicated presidents at least left some positive legacies. Richard Nixon went to China and enacted détente. Bill Clinton through compromise balanced the budget and incurred budget surpluses.

But Barack Obama?

Read more →

The Political Debate We Need to Have

Today, we treat politics as a sport, but it’s really a conflict of ideologies between federalists and technocrats.

by Bruce S. Thornton // Defining Ideas 

The media and pundits treat politics like a sport. The significance of the recent agreement to postpone the debt crisis until January, for instance, is really about which party won and which lost, which party’s tactics are liable to be more successful in the next election, and which politician is a winner and which a loser. But politics rightly understood is not about the contest of policies or politicians. It’s about the philosophical principles and ideas that create one policy rather than another—that’s what it should be about, at least.imgres

From that point of view, the conflict between Democrats and Republicans concerns the size and role of the federal government, which is no surprise to anyone who even casually follows politics. But more important are the ideas that ground arguments for or against limited government. These ideas include our notions of human nature, and what motivates citizens when they make political decisions. Our political conflicts today reflect the two major ways Americans have answered these questions.

The framing of the Constitution itself was predicated on one answer, best expressed by Italian philosopher Niccolo Machiavelli: “It is necessary to whoever arranges to found a Republic and establish laws in it, to presuppose that all men are bad and that they will use their malignity of mind every time they have the opportunity.” Throughout the debates during the Constitutional convention, the state ratifying conventions, and the essays in the Federalist, the basis of the Constitution was the view that human nature is flawed.

As Alexander Hamilton wrote in Federalist 6,men are “ambitious, vindictive and rapacious,” and are motivated by what James Madison called “passions and interests.” These destructive passions and selfish interests were particularly predominant among the masses, whose ignorance of political theory and history left them vulnerable to demagogues. Read more →

Questions Rarely Asked–and Never Answered

by Victor Davis Hanson // PJ Media 

It Can’t Happen Here?

What does it take to warn Americans about unchecked pension growth, socialized medicine, vast increases in Photo Credit: Lester Public Library via Flickrentitlements, higher taxes, and steady expansion of government? In other words, what is it about DetroitItaly, or Greece that we do not understand?

In the last five years, the Obama administration has raised taxes on the top income rates, implemented Obamacare, added millions to the disability and food stamp roles, grown the size of the federal work force, run up the national debt, and vastly expanded the money supply, along with insuring near zero interest rates. Are there any historical examples where these redistributive efforts have brought long-term tranquility and prosperity?

To put it another way, does anyone ask basic questions about human nature anymore? If one gives more incentives to obtain government support while unemployed, why would not fewer people be working? If the food stamp, unemployment, and disability rolls are markedly up, and if it is almost impossible to verify that recipients are also not working for unreported cash wages (we hear mostly of government efforts to add more to these programs, rather than to audit those already on them), why would one seek a “regular” job that would lose such subsidies and make all one’s income reportable? (We know two basic truths about the IRS in the age of Obama: first, it goes after political opponents in partisan fashion, and second, it gives away billions of dollars in federal income tax rebate credits to those who did not deserve them.) Read more →

The Democratic Disasters to Come

by Victor Davis Hanson // PJ Media 

The defunding wars are over. The accusations are fading. We are back to reality. Of course, America’s long-term prospects, at least in comparison with other countries’ futures — whether in terms of demography, military power, food-production constitutional stability, energy sources, or higher education — are bright.Photo Credit: roberthuffstutter via Flickr

But short term, we are walking over landmines that threaten to blow up the normal way of doing business, and pose far more harm for Democrats than for Republicans.

Zero Interest

The real story about the debt is that by the end of Obama’s eight years, he will have matched the borrowing of all previous presidents combined.  Yet incredibly, the present huge sum of $17 trillion in debt is serviced at the same cost that we paid over 15 years ago. Such free use of money without raging inflation is almost historically unprecedented — and it won’t last.

Indeed, we are paying today about the same amount in aggregate annual interest payments, in non-inflation-adjusted dollars no less, as in 1997 — even though the 2012 figure of $17 trillion in debt is about three times larger than it was a decade-and-a-half ago. That anomaly is possible only because today’s interest rate of about 2.2% is only a third of what it was back then. Read more →

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