Google

Wednesday, June 29, 2011

While Al Gore and the global warming activists are failing in their misguided efforts to enact a global treaty to deal with the problem (if it exists), a more immediate problem continues to loom on the horizon...the fiscal collapse of the United States of America.

Laurence Kotlikoff calls it a war against our children, and has the frightening figures.

Lawrence B. Lindsey also has the numbers that show our deficit problem is worse than we think.

Can anything save us?

As a person whose expertise falls within the political realm (having studied and covered American politics for decades), I can tell you it doesn't look good. I simply see no way either party can embrace the kinds of tax increases or entitlement cuts necessary to solve the problem without committing political suicide. I expect that as each side tentatively pushes forward with their preferred solutions (leaning on more tax hikes for the Democrats and more spending cuts for the Republicans) they will find their election coalitions dissolving before their eyes. We are already seeing it happen. The Democrats rode the wave in 2006 and 2008. The GOP rode the wave in 2010 and that wave will continue, in my opinion, into 2012. The Democrats will come roaring back in 2014. As this see-saw political battle continues, real solutions will continue to be put off while the crisis worsens.

So, I say again, can anything save us?

Only a new, unexpected burst of enormous economic growth (as we saw in the 1990s). Barring such a burst of growth, expect a lost decade and decline or significant social and political upheaval leading to a radical transformation (I think the latter more likely, as Americans are much more prone to tearing up the book and throwing it away to start fresh than simply let things slide, especially if they are prompted by some dramatic event).

In other news...Mona Charen continue her crusade to alert people to the importance of traditional marriage. She believes too much time is being spent talking about gay marriage while ignoring the decline of heterosexual marriage, especially amongst people without a college education.

Amir Taheri writes about the recent missile tests in Iran as the Iranian generals talk about hitting Israel and American bases in the region. Apparently, they think we are in retreat (an impression easy to understand by watching and listening to President Obama).

Sean Trende writes about why redistricting makes it harder for the Democrats to win back the House.

Jay Cost reminds us that presidential polls, whether in Iowa, New Hampshire or nationally, are absolutely useless at this stage.

0 Comments:

Post a Comment

<< Home