Business, Economics, Media Criticism, Political Commentary

The President’s Bluff

51 Comments

James Taranto has some thoughts on the fading/faded powers of Barack Obama:

A lot of people have been making fun of the president for supposedly saying, “Don’t call my bluff,” as if he’s admitting he’s bluffing. That seems to us a bit pedantic. Surely what he meant was something like “Don’t think you can call my bluff.”

What got our attention about this exchange as reported by Cantor is the president’s threat to take his case “to the American people.” Would those be the same American people who aren’t paying attention and don’t understand all this complicated stuff?

This seems to us an empty threat not least because since his election, Obama has a poor track record when it comes to taking his case to the American people–who still overwhelmingly oppose ObamaCare, give him poor marks on the economy, and think the debt limit shouldn’t be raised even though it pretty much has to be. He always ends up wishing he’d done a better job “explaining” his position, which at least sounds more humble than saying the American people don’t get it.

Of course, even if that’s what he meant, he’s still implying (in fact clearly stating) that it’s a bluff. And he’s right.

[Update a few minutes later]

Charles K. — “Call Obama’s bluff.”

[Update a couple minutes later]

Eric Cantor — “This is not a game.”

[Update a while later]

“Sounds like Obama won’t even call his own bluff.”

Media Criticism, Political Commentary

Doubling Down On The Bluff

2 Comments

Apparently the DSCC is as clueless about the concept of bluffing as the president is. Hilarious:

Don’t call my bluff.

These were the strong words President Obama had for Eric Cantor, leader of the Congressional “Hell No” Caucus. These Republicans are so bent on destroying the president, they’re willing to create an economic meltdown to try to tie it on the Democrats.

The president and Democrats are holding strong against this obstinacy, but in no time, the GOP will go on the attack. If a debt ceiling deal is not reached, they will spend millions blaming Democrats. And we will need to fight back against every single lie.

And note the usual leftist projection about the “lies.”

[Update a couple minutes later]

Debt crisis today, or debt crisis tomorrow? Why just raising the debt ceiling doesn’t solve the problem.

Business, Education, Political Commentary, Space, Technology and Society

On The Chopping Block

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(My CEI colleague) Iain Murray says that part of a budget deal should be to eliminate the Department of Commerce.

It’s not actually the first one I’d go after (I’d get rid of e.g., Education, Labor and Energy first), but I understand the potential appeal. But it does serve many necessary functions that would have to be redistributed elsewhere. For instance, the National Institute of Standards and Technology (NIST) wouldn’t find a comfortable home in the State Department, nor would NOAA or the weather service. Granted, the latter is kind of a mess right now, in terms of not getting needed new satellites up (particularly now that we’re headed into the heart of hurricane season), though it’s not clear whether that’s NOAA’s fault, or NASA’s, which actually manages the development of the satellites. Also, giving over the commercial export list to the State Department could make ITAR even more of a disaster than it already is. It would also raise the issue of finding a new home for the Coast Guard (and the Space Guard, if we ever get one).

There is a reason that Commerce has been around a lot longer than the three agencies I mention above as better targets — if it didn’t exist, we’d probably have to invent it in some form. And unlike education, energy, or labor, we actually do have a Commerce Clause in the Constitution (flawed and overstretched though its interpretation has become).

Business, Economics, Political Commentary

High-Speed Rail

…is dead:

Advocates have excoriated opponents to high speed rail, but have shown themselves largely utterly unserious about the enterprise as they have put no focus on overcoming major institutional barriers such as the steam road era thinking of the Federal Railroad Administration which is stuck in the 90s – the 1890s – or the mismanagement at Amtrak. Getting to an HSR system that works is going to involve major reform (or replacement) of those agencies since all proven, international HSR systems are illegal in the US under current rules. Witness here also the histrionics about a Republican proposal to privatize the Northeast Corridor rail operations rather than engage with it as a starting point. Even in Europe and Japan, many HSR operations are private, so there’s no reason they can’t be in the US too.

To be clear, though I myself have been ambivalent about the high speed rail enterprise, I do not consider myself anti-rail in the slightest. I agree that HSR could bring potentially significant benefits, particularly in the Northeast, although it’s a somewhat more speculative enterprise in most parts of the country. This is one on which reasonable people can disagree. But however one feels, getting to the benefits will require a properly designed and operated true high speed system, something few of the current proposals would provide.

It’s time to take a major gut check on high speed rail in America and rethink the direction. Clearly, with the budgetary and political situation, significant future HSR investments are unlikely. Even if some billions materialize, the experience of the stimulus suggests that they will be frittered away as salami slices sent hither and fro.

A better approach might be to take some time to think more clearly about what we want high speed rail to look like in America. It starts with learning from best – and worst – practices abroad, while noting the important differences versus the US. We need to put a proper regulatory regime in place and reform the FRA; to set up a framework for a successful privatization of any system, probably with operations contracted to an international operator with high speed experience; and to jettison any thought of Amtrak as the ultimate HSR system operator.

But all of that would defeat the true purpose of the system. And unfortunately, many of these programs will zombie on, especially in those states that can least afford them (like California) until the real economic tsunami hits. But I think I can already start to see the waters starting to recede…

Biting Commentary about Infinity…and Beyond!