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Obama's Spend, Tax and Borrow Policies Will Wreck the U.S. Economy

The stated aims of the Democrat party in convention at Denver and the Democrat congressional leadership and the Obama administration are to drive the U.S. toward a western European-style democratic socialism that will feature higher taxes, a broader social safety net including significant labor inflexibility resulting in lower full-time employment, limited social and economic mobility, equality of outcomes and a more robust role for the federal government. Instead of curing the economy the so-called stimulus program and the proposed budget are intended to take us nearer to the desired end (Rham Emanuel told us that, “You never want a serious crisis to go to waste.”)



Financial markets are only now beginning to understand that the current risk of financial collapse is far less important than is the prospect of having a low growth economy designed by the intellectual heirs of Saul Alinsky and lower returns on investments forever.

Deep Read: 'New York' on the Future of the 'Times'

At one time, the NYT was the newspaper of record for literate Americans. Under the current business and editorial management, it has abandoned its franchise, objective reportage, in favor of Manhattanzied advocacy journalism. The Wall Street Journal's national ambitions are quite reasonably founded on the readership the NYT has walked away from.