Anyone who still thinks the Affordable Care Act was a "government takeover of health care" should consider this headline from the news pages of last Thursday's Investor's Business Daily -- a Wall Street publication whose editorial writers have rarely missed an opportunity to bash the healthcare-reform law.
Today, as he makes his sixth State of the Union speech, the president faces a solidly Republican Congress, and he never has to face the electorate again. So we are seeing a stronger and more forceful president than ever before. He is challenging Congress to act and outlining again the principles he ran on in 2008. This is Barack Obama unleashed.
The economy grew at an impressive rate of four percent in the second quarter of this year, according to a government report released on Wednesday. But the stock market promptly tanked. The Dow lost more than 317 points Thursday and another 70 points Friday. What gives? Financial markets like it when the economy grows fast enough to signal that the recovery is continuing -- but not so fast that labor markets might tighten and workers get more bargaining power to get raises. Markets also worry that if the economy grows too fast, the Federal Reserve might pull back from its policy of low interest rates.