Happy Memorial Day!
I'll be out of town for the weekend, though I may still post a thing or two since I have to take the laptop and catch up on missing paperwork for the boss.
If you are traveling, be safe. If you aren't, I hope you are enjoying the weekend with family and friends.
Monday keep in mind why this is "Memorial Day" weekend, and remember those who gave all so that we can bbq, water ski, and picnic this weekend.
Now here's a little "light reading" from the Wall St. Journal's editorial pages this week.
From Friday's Potomac Watch, Kimberly Strassel wrote about "The Obama Learning Curve" when it comes to foriegn policy. Joe Biden attempts to come to Obama's defense on the same page with "Republican's and our Enemies" but omits every lesson of appeasement over the last 30 years, since the original Iranian Hostage Crisis. Not a surprise, since those lessons paint the Obama strategy as a new folly in foriegn policy.
Biden's opinion is a direct response to a Wednesday piece by Joe Lieberman, "Democrats and Our Enemies" which asks, "How did the party of Franklin Roosevelt, Harry Truman and John F. Kennedy drift so far from the foreign policy and national security principles and policies that were at the core of its identity and its purpose?"
Contrast the two and what you see is Lieberman giving an honest assessment of his party and it's move left. Biden's piece like the standard Democratic Party (or MoveOn.Org) lines of the last 7 years, with no real answers, or solutions, but instead whining about everything being W's fault.
Finally if you skip everything I recommended above, read Paul Ryan's (R-Wi) "How To Tackle the Entitlement Crisis", which outlines his legislative initiative "A Roadmap for America's Future". Ryan points out that, left unchecked an unchanged, which is the easy road for our Congress, by the time his kids reach 38 government spending on entitlement programs will consume 40% of our economy. That's not 40% of our taxes, we're past that point already, but 40% of GDP. In otherwords, current spending isn't sustainable.
Ryan; who should be John McCain's running mate come the convention; asked the CBO to provide him the required tax numbers to balance the budget under the assumption that no economic feedback occurred from tax increases, and that increasing taxes was the only way to balance the budget. The result was we'd need an 88% tax bracket, and the lowest bracket would have to be 25%. He based his roadmap on getting rid of that insane tax requirement.
Ryan knows that his plan will go no where, and admits it. What he hopes is that providing the rest of congress an honest assement of the state of entitlement spending might spur them to take honest steps to address it.