
 |
|
February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
February 9, 2012
Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students
Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
February 8, 2012
Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
February 7, 2012
Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one
Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design
February 6, 2012
Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
|
| |
Jewish World Review
April 9, 2009
/ 14 Nissan 5769
The politics of blame
By
Victor Davis Hanson
| 
|
|
|
|
http://www.JewishWorldReview.com |
It should have been easy for Democrats to connect depleted 401(k) accounts and lost home equity with the buccaneers of Wall Street who supposedly prompted the panic.
The public, after all, has been whipped up in furor at the masters of the universe who bankrupted portfolios as they walked away with multimillion-dollar bonuses. We now hate those on Wall Street as much as we used to like them for bringing spectacular growth to our retirement accounts.
In a recent private meeting with some of the world's largest bankers, President Obama reportedly railed at them: "My administration is the only thing between you and the pitchforks!"
But not so fast, Mr. President.
The Obama administration, remember, signed the Democratic-sponsored bill to authorize new bailouts for Wall Street firms and mega-bonuses for their executives. And during the Clinton administration, Treasury Secretaries Robert Rubin and Larry Summers who both later made millions on Wall Street succeeded in freeing investment banks from federal regulations that eventually led to their reckless gambling with trillions in sub-prime mortgage debt.
The quasi-government-run Fannie Mae and Freddie Mac mortgage agencies staffed with ex-Clinton administration cronies were at Ground Zero of the financial meltdown. Liberals in Congress like Sen. Chris Dodd and Rep. Barney Frank were among the largest recipients of Wall Street money. In the 2008 presidential campaign, most of the big investor money went to Democratic candidate Obama.
Billionaire investors like Warren Buffet and George Soros proved to be among Obama's staunchest supporters. Health and Human Services Cabinet-nominee Tom Daschle had to bow out because he skipped paying income taxes on free corporate limousine service. Democrats are clearly no longer the party of dirt farmers in bib overalls and sweaty dockworkers.
Can fiscally conservative Republicans pull off the feat of galvanizing populist backlash against fat-cat Democrats and their supporters on Wall Street? Looking at some of President Obama's initiatives, you'd think conservatives would have plenty of ammunition.
Obama's promises to tax only those families making above $250,000 will probably prove a fantasy, given the proposed $1.7 trillion annual budget deficit and the nearly $10 trillion in additional debt that we are projected to incur over the next decade.
There simply are not enough wealthy to tax to pay back that sum. Instead, most likely our children and grandchildren for generations, through all sorts of higher taxes, will have to service the mountain of debt and interest for the larger entitlements we'll soon receive.
Shouldn't this kind of out-of-control spending and big government be natural wedge issues for conservatives against free-spending liberals?
But, again, not so fast, as conservatives have credibility problems of their own.
The last Bush administration budget racked up a $500 billion annual deficit and added more than $4 trillion to the national debt over eight years of governance. During the first Bush term, when the Republicans controlled Congress, government spending grew on average at an annual rate of over 4 percent far higher than during the previous Democratic Clinton administration.
Barack Obama and the Democratic Congress may be planning unheard of multitrillion-dollar budgets, but they are in fact only expanding on earlier Republican fiscal recklessness.
You know we live in strange times when it's hard to figure out whether to blame big money or big government.
In the past, Democratic populists could rail against the Wall Street excess that had helped to wreck Americans' retirement portfolios. These populist Democrats, though, are gone, replaced by liberal grandees who are more interested in the money of Wall Street than its ethics.
Today's Democratic-led government, meanwhile, has gone on a spending spree, taking on massive debt for all sorts of new "stimulus" and Republican conservatives, given their recent profligate past, can hardly serve as credible watchdogs.
So, take your pick whom to blame: not-so liberal Democrats, now trashing the Wall Street that enriched them, or not-so conservative Republicans, suddenly railing against Washington's out-of-control budgets that they themselves had never balanced.
In a democracy that chooses its own leaders, maybe the real problem is ourselves for wanting big government without big taxes, big stock returns without big risk and easy money without hard work.
Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
Victor Davis Hanson, a classicist and military historian, is a senior fellow at the Hoover Institution and a recipient of the 2007 National Humanities Medal. Comment by clicking here.
Archives
© 2009, TMS
|
|

Arnold Ahlert
Mitch Albom
Jay Ambrose
Michael Barone
Barrywood
Tony Blankley
Lori Borgman
Stratfor Briefing
Mona Charen
Linda Chavez
Richard Z. Chesnoff
Ann Coulter
Greg Crosby
Alan Douglas
Larry Elder
Suzanne Fields
Frank J. Gaffney
Bernie Goldberg
Jonah Goldberg
Julia Gorin
Jonathan Gurwitz
Paul Greenberg
Argus Hamilton
Victor Davis Hanson
Betsy Hart
Ron Hart
Nat Hentoff
Marybeth Hicks
David Horowitz
Jeff Jacoby
Renee James
Paul Johnson
Jack Kelly
Ed Koch
Ch. Krauthammer
Michael Ledeen
John Leo
David Limbaugh
Kathryn Lopez
Rich Lowry
Michelle Malkin
Jackie Mason
Ann McFeatters
Dale McFeatters
Dana Milbank
Jeanne Moos
Dick Morris
Jim Mullen
Deroy Murdock
Judge A. Napolitano
Bill O'Reilly
Kathleen Parker
Star Parker
Dennis Prager
Wesley Pruden
Tom Purcell
Sharon Randall
Robert Robb
Cokie & Steve Roberts
Heather Robinson
Pat Sajak
Debra J. Saunders
Martin Schram
Culture Shlock
David Shribman
Roger Simon
Michael Smerconish
Thomas Sowell
Ben Stein
Mark Steyn
John Stossel
Cal Thomas
Dan Thomasson
Bob Tyrrell
Ben Wattenberg
Diana West
Dave Weinbaum
George Will
Walter Williams
Byron York
ZeitGeist
Mort Zuckerman

Robert Arial
Chuck Asay
Baloo
Chip Bok
Dry Bones
Lisa Benson
John Branch
John Cole
J. D. Crowe
John Deering
Brian Duffy
Everything's Relative
Mallard Fillmore
Glenn Foden
Jake Fuller
Bob Gorrel
Joe Heller
David Hitch
Jerry Holbert
Lee Judge
Steve Kelley
Jeff Koterba
Dick Locher
Jimmy Margulies
Rick McKee
Michael Ramirez
Kevin Siers
Jeff Stahler
Ed Stein
Danna Summers
John Trever
Gary Varvel
Kirk Walters

Mr. Know-It-All
Dr. Peter Gott
GET A JOB! by Marty Nemko
Richard Lederer
Frugal Living
Tech Maven
On Nutrition
Bookmark These
Bruce Williams
|