Category Archives: Political Commentary

How Does That Happen?

Sarah Palin says repeatedly on the stump that they’ll balance the budget by the end of the first term. Have they actually put forth a plan to do that? I suppose I should actually go over and look at the campaign web site…

I also have to confess that I find her voice and speaking style annoying. It’s nothing on which I’d base my vote, of course, but I can see how it might add to the fury of people who don’t like her politics.

Joe Isn’t The Point

SInce some commenters are too stupid to get it, Betsy Newmark writes that this may have been Barack Obama’s “macaca” moment:

For those on the left who think that this whole story is about Joe’s personal background, let me put in in terms they should understand. Think of Joe as a symbolic construct whose situation is “fake but accurate.” The left always seems to like that sort of approach to what they regard as underlying truths. Think of him as the left thought of Rigoberta Menchu, the Guatemalan writer who won the Nobel Prize for literature with her autobiography of how, as an indigenous Mayan, she and her family had suffered at the hands of the Guatemalan army. Except it turns out that many of the details in her autobiography were fabrications. That didn’t matter to the left or the Nobel Prize Committee because they regarded her story, true or not, as an essential expression of suffering that could have been true.

It doesn’t matter if Joe is secretly a multimillionaire plumbing magnate or an apprentice plumber with unrealistic dreams. What matters is how Obama answered his question and what it revealed about his approach to redistribution of wealth. We’re not about to elect Joe the Plumber.

She has another thought:

I would have thought that Democrats would have learned the dangers of going too far in sliming an opponent or anyone who doesn’t support their guy. They helped promote Sarah Palin to a phenomenon by their relentless pursuit of anything that could be used against her. Questioning whether or not she was really the mother of her baby and if she could serve as vice president with a Down Syndrome infant set her up not only for a backlash among ordinary people but helped innoculate her against more substantive criticisms.

Obama suffered some of his biggest setbacks in the primaries after he was taped describing Pennsylvanians as bitterly clinging to their guns and religion. Now John Murtha is having to backtrack after calling his own constituents in western Pennsylvania racists because they might not support Barack Obama. And Obama’s followers are now all outraged that a guy asked the senator a question that evoked a revealing answer when Obama popped into his neighborhood for a photo op. It wasn’t Joe’s question that was so important, but Obama’s answer.

Are they trying to demonstrate that they have actually no real care for ordinary people unless those people are falling in line to vote for The One? They really ought to be more careful not to let that mask slip before the election is over.

The thing is, they never learn. Smearing and sliming comes naturally, and is always their first resort. And of course, like their lies and racism and generally fascist tendencies, they project it on their political opponents.

OK, They’re Officially Insane

I’m listening to Fox, on which an Obama spokeshole is claiming that the McCain campaign “didn’t vet Joe the Plumber.”

They must be terrified.

[Late morning update]

Jeff Medcalf visualizes the vetting process in comments:

McCain Rep: Excuse me, sir, but I need to ask you a few questions.

Joe the Plumber:: Why? Are you the police?

MR: No, sir, I’m with the McCain campaign. I need to ask you a few questions, on the off chance that you are playing football in your front yard when Senator Obama decides to make an unscheduled stop to try to talk you into voting for him.

JTP: Oh, that’s not a problem: I won’t be voting for him, anyway, because I’m afraid he would raise my taxes.

MR: That’s not the point, sir. The point is, if he were to stop by and ask for your vote, you might ask him questions.

JTP: So?

MR: He might answer them.

JTP: So?

MR: If he answers a question that he isn’t expecting, and without a TelePrompTer to fall back on, he might accidentally tell the truth. And that could embarrass him. And that means that you need to be vetted just in case.

JTP: <dumbfounded look>

MR: So I have this twenty page form for you to fill out, listing your background, education, financial details, professional affiliations, friends, family, voting history, embarrassing incidents from elementary school. You know, standard stuff.

JTP: <slams door>

“A Star On The Fridge”

This, coming from Jim Abrahamson, is pretty disappointing:

James A. Abrahamson, a retired Air Force lieutenant general and the chairman of the NAC’s Exploration Committee, praised the Constellation program to the Council at its quarterly meeting in Cocoa Beach, calling it the best program for the agency given its tight budget and schedule.

“The NAC is confident that the current plan is viable and represents a well-considered approach given the constraints on budget, schedule and achievable technology,” he said.

I agree with this comment (and I have a pretty good guess as to who made it):

One Washington-based space policy consultant said: “The NAC’s endorsement of Ares I reminds me of the so-called independent rating firms that kept saying that Lehman Brothers, Wachovia, and AIG were just fine.”

Yeah, I don’t think that the NAC is all that “independent.” By its nature, it tends to consist of space industry insiders drinking their own bathwater. Looking over the Exploration Committee, it doesn’t strike me that any of the members are space transportation experts (and no, you don’t become one by being an astronaut, as proven by Horowitz…). But I thought that Abrahamson was smarter than that.

I’m Drooling

Amazon is having a power tool sale. Stock up now, before the apocalypse.

Not that great for a survivalist, though, unless you can generate a lot of power. Let’s hope we’re not going back to hand tools soon.

Actually, I already have most of this stuff. I continue to be amazed at the cost, quality and innovativeness of tools since I was a kid. It has to have been a great contributor to national productivity, both professionally, and for the DIYers. And it wouldn’t have happened without China. Another reason to hope that the (newly isolationist) Dems don’t get full control of the government.

What We Should Really Be Angry About

I fully agree with Iain Murray:

While conservatives are angry about a number of things at the moment, they should be at least as angry that the Congressional Democrats who helped stoke the mortgage crisis are getting away with blaming everyone else for it. Today, Senator Chris Dodd, the prime recipient of GSE lobbying funds and proud holder of a sweetheart mortgage from Countrywide, is holding hearings where the witnesses will blame everyone but Dodd, Barney Frank and their cronies. Republicans asked to invite witnesses but were barred from doing so.

The notion that this mess is the fault of Republicans, and “deregulation” and the free market, is one of the biggest frauds ever perpetrated on the American people. And as a result, we could be heading toward both electoral and economic disaster.

[Update early afternoon]

Peter Schiff says don’t blame capitalism:

Just as prices in a free market are set by supply and demand, financial and real estate markets are governed by the opposing tension between greed and fear. Everyone wants to make money, but everyone is also afraid of losing what he has. Although few would ascribe their desire for prosperity to greed, it is simply a rose by another name. Greed is the elemental motivation for the economic risk-taking and hard work that are essential to a vibrant economy.

But over the past generation, government has removed the necessary counterbalance of fear from the equation. Policies enacted by the Federal Reserve, the Federal Housing Administration, Fannie Mae and Freddie Mac (which were always government entities in disguise), and others created advantages for home-buying and selling and removed disincentives for lending and borrowing. The result was a credit and real estate bubble that could only grow — until it could grow no more.

Prominent among these wrongheaded advantages are the mortgage interest tax deduction and the exemption of real estate capital gains from taxable income. These policies create unnatural demand for home purchases and a (tax-free) incentive to speculate in real estate.

Similarly, the FHA, Fannie and Freddie were created to encourage lending by allowing primary lenders to turn their long-term risk over to the government. Absent this implicit guarantee, lenders would probably have been much more conservative in approving borrowers and setting interest terms, and in requiring documentation of incomes and higher down payments. Market forces would have kept out unqualified buyers and prevented home-price appreciation from exceeding the growth in household income.

Read the whole thing.

I disagree, though that the solution is to take away the home-mortgage interest deduction and the capital gains break. It would be much better to restore the deduction for all interest (as it is for business, and was for individuals until the tax “reform” in 1986). It’s not fair to have to pay tax on interest earned as income, but not be able to deduct interest paid.

Also, rather than treating houses preferentially, peg all capital gains taxes to inflation, to eliminate having to pay a tax when the actual value hadn’t increased.