They broke it; we bought it
By Jon Sanders
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Caveat emptor. That's a Latin expression for "Let the
buyer beware," which could also be expressed as "We broke it; you
bought it." And that sounds like
the winning message of the 2012 presidential campaign.
broken is rather self-evident at this point, though the winning side is
pleased we accept it as (euphemism alert) the "new
normal" and their lickspittle media pretend
to find it lovely this time. But what did we buy? Among our dear-bought
- A crippling gut-stomp of federal regulations
The Environmental Protection Agency has been waiting till after Election
Day to release thousands of new environmental regulations. Regardless of
how one terms the coming onslaught -- is it a tidal
wave or a train
wreck? -- the pending crush of over 4,100 regulations will cost the
U.S. economy, which one may remember is still struggling to recover, over
$500 billion. In other words, the EPA is poised to consign half a trillion
dollars' worth of economic activity to deadweight loss. We bought that.
- Taxmaggedon and the Fiscal Cliff
Our national choice to stay the course, this course, has a Thelma & Louise/Wile E. Coyote flair to
it. The fiscal
cliff fast approaches, which will cost the U.S. economy, which one may
remember is still struggling to recover, an estimated $800 billion.
is poised to erupt at the same time, taking out 3-5 percent of GDP right
when, as one may remember, the U.S. economy is still struggling to
recover. The Tax Foundation, much like Accuweather
did for Hurricane Sandy, has put together a handy primer
for understanding what is coming, this fiscal disaster. We bought that,
- The still-unfathomed depths of Obamacare taxes and regulations
How many pages of regulations does the federal government require to
micromanage one-sixth of the U.S. economy? So far, tens
of thousands, due to arrive in January while, as one may remember, the
U.S. economy still struggles to recover. The latest estimate of the cost
of Obamacare taxes to the U.S. economy, which one may remember is still
struggling to recover, is more
than $1 trillion over the next 10 years. The legislation, which was
first pushed as a government-compassion kind of way to address the fact
that poor people struggle to afford health insurance, contains a special "penalty
tax" for those who disobey the Obamacare dictate that they buy health
insurance (that is, for poor people who decide they can't afford health
insurance). That tax would affect an estimated 6
million low- and middle-income Americans, depriving them of up to 10
percent of their paltry incomes as they, along with the U.S. economy,
struggle to recover. We bought all that.
The dust jacket for Amity Shlaes' history of the Great
Forgotten Man, summarizes,
Shlaes also traces the mounting
agony of the New Dealers themselves as they discovered their errors. She shows
how both Presidents Hoover and Roosevelt failed to understand the prosperity of
the 1920s and heaped massive burdens on the country that more than offset the
benefit of the New Deal programs. The real question about the Depression, she
argues, is not whether Roosevelt ended it with World War II. It is why the
Depression lasted so long. From 1929 to 1940, federal intervention helped to
make the Depression great -- in part by forgetting the men and women who sought
to help one another.
Back then, a recession
turned depression turned great by government intervention, government
meddling, and government continuing to heap new burdens on a struggling economy
was the popular choice, as well.
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Regulation Update archive.
Thursday, Nov. 15th, 2012 at 12:00 p.m.
A Headliner Luncheon
with our special guest Fred Barnes
Headliner Luncheon with Fred Barnes:
What the Election Results Really Mean
Monday, Nov. 19th, 2012 at 12:00 p.m.
Shaftesbury Society Luncheon
with our special guest Jonathan Butcher
“Education Savings Accounts: A Path to Give All Children an Effective Education and Prepare Them for Life.”
Thursday, Dec. 6th, 2012 at 6:00 - 10:00 p.m.
Spirit of Inquiry Awards Dinner
and guest speaker John Hood
"The Changing Political Climate in North Carolina
and What That Means to Higher Education"