On June 10, I turned 40 years old.  Much has changed since 1972, both in my own life as well as in the world.  Forty years ago, President Richard Nixon presided over America.  We were still engaged in the Vietnam War.  The median price of a home was $27,600. The average car cost $3,853, and the average income was $11,859.

 When Ronald Reagan became president in 1981, he tried to abolish the Department of Education, which had been established in 1979 by his predecessor, liberal Democrat Jimmy Carter. Walter Mondale, Carter’s vice president, had obtained the backing of the National Education Association by promising them a cabinet-level Department of Education, which the NEA had strongly advocated.

Battling over a transportation bill that now also addresses student-loan interest rates, congressional lawmakers are scrambling to appease their constituents in a legislative boondoggle littered with election-year politics. Aimed for final passage this week, the legislation intends to extend federal highway funding, prevent new student-loan interest rates from doubling, renew and revise federal flood insurance, and a slew of other provisions.

The 22-year-old Saudi “student” who landed in the United States with a visa to study and a dream to murder Americans was convicted in court of attempting to use a weapon of mass destruction, the FBI said.  Khalid Ali-M Aldawsari could get life in prison for hatching the plot.

 

“What the Court did not do on its last day in session I will do on my first day if elected President of the United States. And that is I will act to repeal Obamacare.... Obamacare was bad policy yesterday. It's bad policy today. Obamacare was bad law yesterday. It’s bad law today.”

“Simply put, Congress may tax and spend.” With those historic words, the Supreme Court forced upon the United States a bleak dawn of a brave new world in which the federal government cannot be checked in its march toward totalitarianism.  In a 5-4 decision the Supreme Court upheld the joint venture of the President and Congress to force every American, regardless of ability or desire, to purchase a qualifying health care insurance plan by 2014 or face a tax penalty for failure to comply.

 

With the ascension of the Muslim Brotherhood to power and relinquishing of power by the military, Egypt's military will no longer be able to arrest protesters, but critics wonder whether the Brotherhood can be trusted with its newly acquired power.

When the New York Times reported that the losses resulting from the failed trade made by JP Morgan Chase (JPM) earlier this year could reach $9 billion instead of the $2 billion initially reported, some said it didn’t matter while others called for more regulations. Few considered that such trades, and consequent losses, were inevitable and would likely continue because of the implied taxpayer backstop.

 

 On Monday the Supreme Court issued its ruling on the constitutional challenge filed against the Arizona immigration statute. In the decision, one of the four provisions at issue was upheld, while the remaining three were struck down.

 

Today's Supreme Court decision upholding ObamaCare means November's elections will be a national referendum on repealing ObamaCare.

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