THERE may not be a person in America without a strong opinion about what coulda, shoulda been done to prevent the underwear bomber from boarding that Christmas flight to Detroit. In the years since 9/11, we’ve all become counterterrorists. But in the 16 months since that other calamity in downtown New York — the crash precipitated by the 9/15 failure of Lehman Brothers — most of us are still ignorant about what Warren Buffett called the “financial weapons of mass destruction” that wrecked our economy. Fluent as we are in Al Qaeda and(Leer más)
As health care reform nears the finish line, there is much wailing and rending of garments among conservatives. And I’m not just talking about the tea partiers. Even calmer conservatives have been issuing dire warnings that Obamacare will turn America into a European-style social democracy. And everyone knows that Europe has lost all its economic dynamism.
Strange to say, however, what everyone knows isn’t true. Europe has its economic troubles; who doesn’t? But the story you hear all the time — of a stagnant economy in which high taxes and generous social benefits(Leer más)
By David Brooks
Many Democrats are nostalgic for Barack Obama’s 2008 presidential campaign — for the passion, the clarity, the bliss-to-be-alive fervor. They argue that these things are missing in a cautious and emotionless White House.
But, of course, the Obama campaign, like all presidential campaigns, was built on a series of fictions. The first fiction was that government is a contest between truth and error. In reality, government is usually a contest between competing, unequal truths.
The second fiction was that to support a policy is to make it happen. In fact, in government power is exercised through other(Leer más)
Health care reform hangs in the balance. Its fate rests with a handful of “centrist” senators — senators who claim to be mainly worried about whether the proposed legislation is fiscally responsible.
But if they’re really concerned with fiscal responsibility, they shouldn’t be worried about what would happen if health reform passes. They should, instead, be worried about what would happen if it doesn’t pass. For America can’t get control of its budget without controlling health care costs — and this is our last, best chance to deal with these costs in a rational way.
Some background: Long-term fiscal projections(Leer más)