Although Barack Obama is the first black President of the United States, he is by no means unique, except for his complexion. He follows in the footsteps of other presidents with a similar vision, the vision at the heart of the Progressive movement that flourished a hundred years ago.
While the purported reforms brought on by last year’s “Arab Spring” appeared to be floundering in Egypt, the Obama administration is preparing to spend hundreds of millions of dollars to advance those same reforms throughout the Islamic world.
On February 13 Washington Governor Chris Gregoire affixed her signature to a law making her state the seventh to legalize homosexual marriage, even as pro-family forces were preparing a referendum that will challenge the measure and give voters the final say on how marriage is defined in the state.
The deadline for comments on the proposed Volcker Rule was Monday night and hundreds, if not thousands, of letters arrived at the last minute to rail against the rule, mostly from Wall Street. The Volcker Rule — which would prohibit banks from trading with their own money — was proposed last summer by former chairman of the Federal Reserve Paul Volcker, who said in a letter to President Obama that they shouldn’t be gambling with money guaranteed by the taxpayers. Big losses by government-backed banks that were trading in risky securities such as mortgage-backed assets precipitated the financial crisis in 2008 and set up the need for federal bailouts of those banks.
Following the approval of fresh austerity measures in Greece demanded by the European Union and the International Monetary Fund to qualify for the next round of bailouts, furious rioters clashed with police and set dozens of buildings on fire in Athens. But despite the ongoing conflicts between law enforcement and protesters, the Greek police union has threatened to arrest senior EU and IMF officials, too.
It is said that the dinosaur had a tiny brain in a huge body, which undoubtedly contributed to its extinction. This huge body also required an enormous amount of food for its survival. The public education establishment has the same characteristics: small brain, huge body, enormous appetite for taxpayer money — its only means of survival.
The numbers posted at Investors Business Daily over the weekend by John Merline were impressive: U.S. manufacturing profits last year exceeded $600 billion, almost tripling since the bottom of the recession, while jobs in manufacturing have increased by 400,000 in the past two years. Unemployment in manufacturing has been below the national average for eight straight months, and the industry itself has been growing at three times the rate of the overall economy.
Georgia’s Supreme Court has overturned a law banning advertising for assisted suicide, ruling that it unconstitutionally restricts free speech. The legislature had enacted the law in 1994 in an attempt to keep “right to die” proponents such as Dr. Jack Kevorkian from offering their services in the state.
For weeks now politicians in New York have debated ad nauseum Assemblyman Sheldon Silver’s proposal to increase the minimum wage in New York State by $1.25. The argument — whether to maintain the status quo or strive for $8.50 per hour — is wasteful political rhetoric in itself, for the determination of the wage scale is best left to the free markets.
The debt chickens are coming home to roost in Greece, and the hen house is collapsing. As the hard-pressed Greek parliament convened to vote on an enormously unpopular austerity measure insisted upon by international bankers with the power to prolong Greece’s agony with another bailout, furious mobs set Athens ablaze and fought pitched battles with police. On Monday morning, Greeks surveyed with horror the smoldering rubble of more than 90 buildings across the capital. The popular consensus: this is just the beginning.