Saturday 10 November 2012

Sifting Through the Wreckage Yes, Virginia, things changed.

National Review
"Obamacare, the governmental takeover of one-sixth of the U.S. economy, is now set in legislative concrete, and the progressive campaign to turn ever-larger numbers of citizens into wards of the state has been given a tremendous boost — with electoral consequences as far as the eye can see.
A war in the Middle East is now almost certain, and sooner rather than later; as if the previous three and a half years of fecklessness were not enough, the cast of mind manifest in the administration’s abdication of responsibility in Benghazi will have likely convinced a critical mass of the Israeli leadership that they have no choice but to strike Iran’s nuclear facilities in self-defense. The economic chaos resulting from military conflict in the Persian Gulf (and beyond) will further deepen the European fiscal crisis while making an already weak American economic recovery even more anemic.
The children and grandchildren of November 6’s voters have been condemned to bear the burden of what is certainly an unpayable mountain of debt, and may be an unserviceable amount of debt, which in either case will be an enormous drag on the economy, even as it mortgages America’s strategic options in Asia to the holders of U.S. government bonds in Beijing."

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