I have heard critics of the Ryan-Wyden plan claim that it will end Medicare "as we know it." Well, Medicare "as we know it" is going to end, whether the critics want it to end or not. It is only a question of when and how destructive the end will be.
I applaud this bipartisan effort to reform a program that will, left untouched, ruin the country. I will be curious to see how the administration reacts, whether it has the political courage to offer a rational alternative or will resort to demagoguery.
A Big Step
December 20, 2011
December 19, 2011
Cracking Down on Warming Bloggers
In the wake of Climategate 2, the release of another 5,000 emails from the notorious East Anglia crew, the authorities are starting to play hard ball (see article linked below).
According to another source, the latest email dump has a twist--rather than just communiques between scientists on how to manipulate data, smear critics, and subvert peer review, this batch includes emails with government officials. No wonder these guys are getting desperate.
British Poice Raid Climategate Blogger's Home
According to another source, the latest email dump has a twist--rather than just communiques between scientists on how to manipulate data, smear critics, and subvert peer review, this batch includes emails with government officials. No wonder these guys are getting desperate.
British Poice Raid Climategate Blogger's Home
December 18, 2011
Infrastructure Spending
The article linked below sheds some much needed light on the alleged benefits of spending on infrastructure by the federal government.
Limited Mileage When Feds Spend
Limited Mileage When Feds Spend
December 14, 2011
Whither compromise?
For those who believe that compromise in Washington is the sine qua non of how politics should work, I have a question. What gives with Obama?
Obama wants to extend the payroll tax cut, and fund it with a surtax on millionaires. Republicans believe, correctly, that this is not a pro-growth economic policy. But, they are willing to go along with the extension if Obama will agree to move forward on the Keystone XL pipeline, and they propose to fund the tax cut in other ways. That sounds like compromise to me. But Obama has threatened a veto, and Harry Reid says he won't even allow such a proposal to come to a vote in the Senate. This is the same Harry Reid who thinks the concept that millionaires create jobs is as mythical as the unicorn, but I digress.
In other words, Republicans are saying let's compromise. Obama gets his payroll tax cut, and in return they ask for a project that will create jobs and allow the country to lessen its dependence on oil from the Mideast. Sounds like a pretty reasonable compromise to me.
It seems to me that Obama is now in the unenviable position of having to explain to the middle class, who he claims to champion, that he will not extend their payroll tax cut if it means creating more jobs and improving the nation's energy situation. Then again, he recently said that the payroll tax cut would create more jobs than the Keystone XL pipeline. Which means that, like Harry Reid, he is either astonishingly ignorant or couldn't care less whether his utterances have any connection to reality. He will have to rely heavily on his spin doctors and hope that the public is not paying attention.
Obama wants to extend the payroll tax cut, and fund it with a surtax on millionaires. Republicans believe, correctly, that this is not a pro-growth economic policy. But, they are willing to go along with the extension if Obama will agree to move forward on the Keystone XL pipeline, and they propose to fund the tax cut in other ways. That sounds like compromise to me. But Obama has threatened a veto, and Harry Reid says he won't even allow such a proposal to come to a vote in the Senate. This is the same Harry Reid who thinks the concept that millionaires create jobs is as mythical as the unicorn, but I digress.
In other words, Republicans are saying let's compromise. Obama gets his payroll tax cut, and in return they ask for a project that will create jobs and allow the country to lessen its dependence on oil from the Mideast. Sounds like a pretty reasonable compromise to me.
It seems to me that Obama is now in the unenviable position of having to explain to the middle class, who he claims to champion, that he will not extend their payroll tax cut if it means creating more jobs and improving the nation's energy situation. Then again, he recently said that the payroll tax cut would create more jobs than the Keystone XL pipeline. Which means that, like Harry Reid, he is either astonishingly ignorant or couldn't care less whether his utterances have any connection to reality. He will have to rely heavily on his spin doctors and hope that the public is not paying attention.

December 13, 2011
Tax Rates, Inequality, and the 1%
As the article linked below correctly points out, those who obsess over income inequality should hope and pray for stock market crashes and deep recessions. They are a great recipe for reducing income inequality.
Tax Rates, Inequality, and the 1%
Tax Rates, Inequality, and the 1%
December 12, 2011
The Norquist Myth
Following is an article by Charles Krauthammer. It sheds some much needed light on what is arguably the most important debate currently being waged in Washington.
I would add to Krauthammer's comments that, historically, whether tax rates on the rich are high (90%) or low (28%), revenues to the federal government remain fixed at approximately 19% of GDP. Therefore, the key to more revenues is a growing economy and policies that promote such growth, as opposed to the policies pursued over the past few years. I fear that in the pursuit of "fairness," progressives will bring the economy down.
The Grover Norquist Tax Myth
I would add to Krauthammer's comments that, historically, whether tax rates on the rich are high (90%) or low (28%), revenues to the federal government remain fixed at approximately 19% of GDP. Therefore, the key to more revenues is a growing economy and policies that promote such growth, as opposed to the policies pursued over the past few years. I fear that in the pursuit of "fairness," progressives will bring the economy down.
The Grover Norquist Tax Myth
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