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03 August 2016



George, I am reminded of a Firing Line where WmFB debated Galbraith... IIRC there were additional lesser minds on both sides but it was the two lions who were the main event. Somewhat strangely, Buckley was baiting Galbraith throughout, taunting him with the label "socialist" and, finally, Galbraith could hold his wrath no more and demanded of Buckley, "You can fault my politics but tell me when I was ever wrong on economics."

Buckley of course was waiting for it and immediately countered with the date, place and time when Galbraith had declared 'There was nothing wrong with New York City that doubling its budget wouldn't cure', and in the meantime the budget had been doubled and tripled, ending with a bankruptcy. The audience was primarily Ivy League students (possibly Yale) and while they had been firmly on the left to start, there was howls of laughter at Galbraith's expense and for the rest of the program they were remarkably receptive to Buckley's message.

A correction of your statement about education in the military... they may do a bang up job for military training, but the education that is set up for the children of those in active service has, since the early '90's, been the same drivel now being served up by Common Core.

Account Deleted

A. Blinder is completely correct that wages will go up far more under Clinton than Trump, if indeed, Trump does truly follow free market principles. Of course that will be true only for those who still have a job. Even if Trump wins, how will he be able to undo all of the damage the socialists have inflicted on our nation?
As the cost of labor in the US rises because of higher wages and higher costs of benefits, the work that needs to be done will continue to seek areas of lower costs. That is a law of nature.
Remember that Trump is on record as being opposed to free market ideas as he has floated schemes such as putting extra punitive taxes on certain goods imported from other countries because they were manufactured by American companies who off-shored their plants.
He mentioned Carrier specifically because they were moving some or all of their manufacturing to Mexico.
He suggested a 30% (as I remember) tax on Carrier products as punishment for their 'sin' of trying to stay competitive in the market place. LG is a Chinese company and make their A/Cs mostly in China and would presumably not have to pay this tax.
So Trump would be happy to put an American company that pioneered air conditioning out of business while a Chinese company importing A/C units would not be so burdened.
Americans are experts on a free market economy when it comes to purchasing goods. Outside of that, they have no clue.

Russ Steele

Report: Hillary Clinton Would Hike Taxes By $1.3 Trillion, Debt rises to 25.8 Trillion by 2026

Hillary Clinton comes up $2.2 trillion short in paying for her policy agenda, despite hiking taxes by $1.3 trillion, according to a new analysis of the Democratic nominee’s campaign platform.

The American Action Forum, a center-right policy institute, released a report Thursday finding Clinton’s domestic agenda would “have a dramatic effect on the federal budget.”

Gordon Gray, American Action Forum’s director of fiscal policy, based the report on estimates of policy proposals from the Clinton campaign itself, as well as independent analyses from the Tax Policy Center and the Center for a Responsible Federal Budget.

Gray found Clinton’s policies for expanding government’s role in family leave and student loans would contribute significantly to the deficit, and in turn a growing national debt that stands at $19.358 trillion.

In fact, the amount of debt held by the public alone would reach $25.825 trillion in 2026 under Clinton’s plan. The amount of debt held by the public today is $13.968 trillion.

“Based on these estimates, Secretary Clinton’s proposals would, on net and over a ten-year period (2017-2026), increase revenues by $1.3 trillion, increase outlays by $3.5 trillion, for a combined deficit effect of nearly $2.2 trillion over the next decade,” Gray wrote.


George Rebane

re Gregory's 906pm - In these pages 'military education' has never included the education of the military's civilian dependents.

Bill Tozer

What we have here is a disconnect. From the Fox poll...below the headlines:

more voters feel they are getting ahead financially (35 percent) than have felt that way in nearly a decade. Most voters say they are either just able to pay bills (49 percent) or are falling behind (14 percent). In addition, 55 percent remains dissatisfied with the direction of the country.

49% say they are paddling hard to keep their heads above water. 1/3 say things going good. Mixed bag. 63% on the treadmill or have fallen off. All depends how you look at it. Darn economists still keep trying to peddle the one size fits all cures.

Bill Tozer

Wages by fiat or immigration?


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