Thoughts from Daniel Henninger:
the lumpen electorate works, and the lumpen bureaucratariat spends. They get away with it because they have perfected the illusion that no human hand causes these commitments. The payroll tax just happens. Entitlements are “off-budget,” presumably in the hands of God. This is government without the responsibility of governance.
Unable to identify who or what has put them in hock to the horizon, national electorates are attempting accountability by voting whole parties out of power. Rasmussen recently found that 57% of voters would throw out Congress en masse if they could. Gerrymandered districts ensure that they can’t.
Problem is, the lumpen bureaucratariat can’t stop spending and borrowing and won’t incentivize growth. Amid the phenomenal spending on the financial mess here, they tried to pass a cap-and-trade bill whose centerpiece was an auction of carbon credits to flow trillions of dollars toward the bureaucracies. Mr. Obama’s people seem weirdly oblivious to the scale of their outlays, programs and dreams.
Something has to give.
[Update a few minutes later]
Will Obamacare be to Obama what Spain was to Napoleon?