The social ideals that once animated the European project are dissipating fast. The current crisis and the resulting austerity measures have served to further Americanize Europe through privatization, reduction of government services, and the like.
Here are ten recommendations for the super committee on how they can responsibly reduce projected levels of defense spending by $677 billion over the next ten years without undermining our national security.
President Obama's "millionaire tax" has generated two sound-bite replies. Not only is he engaging in "class warfare," but he is indulging in sheer political posturing -- there simply isn't a lot of money to be raised by targeting the super-rich. Both charges are mistaken.
The nation's current crisis mirrors the situation 36 years ago when New York City teetered near financial collapse, unable to borrow from a banking community that correctly believed the city was broke.
America has prospered historically because we have chosen economic freedom rather than political allocation and crony capitalism. To the extent we move away from economic freedom, our future prosperity will be diminished.
everyone other than President Barack Obama realizes that further fiscal stimulus is out of the question. The real policy choice is how aggressively to rein in the deficit. And even that decision is more likely to be made by foreign creditors.
It is not news that the United States is facing a debt crisis and that public spending is under scrutiny like never before, yet one decade-long drain on the public exchequer has so far escaped the financial meltdown: the Guantanamo Bay Detention Camp.