Our Only Answer is Bankruptcy

Our Only Answer is Bankruptcy

January 18th, 2011

Thomas Sowell, Investors Business Daily

(Thomas Sowell discusses abolishing the Fed on
Judge Napolitano’s show.
Government budget crises can be painful, but the political rhetoric
accompanying these crises can also be fascinating and revealing.
Perhaps the most famous American budget crisis was New York City’s, back
during the 1970s. When President Gerald Ford was unwilling to bail them out, the
famous headline in the New York Daily News read, “Ford to City: Drop Dead.”
President Ford caved and bailed them out, after all. The rhetoric worked.
That is why so many other cities and states — not to mention the federal
government — have continued on with irresponsible spending, and are now facing
new budget crises, with no end in sight.
What would have happened if Ford had stuck to his guns and not set the
dangerous precedent of bailing out local irresponsibility with the taxpayers’
money? New York would have gone bankrupt. But millions of individuals and
organizations go bankrupt without dropping dead.
Bankruptcy conveys the plain facts that political rhetoric tries to conceal.
It tells people who depended on the bankrupt government that they can no longer
depend on that bankrupt government. It tells the voters who elected that
bankrupt government, with its big spending promises, that they made a bad
mistake that they would be wise to avoid making again in the future.
Legally, bankruptcy wipes out commitments made to public sector unions, whose
extravagant pay and pension contracts are bleeding municipal and state
governments dry. Is putting an end to political irresponsibility and legalized
union racketeering dropping dead?
Politics being what it is, we are sure to hear all sorts of doomsday rhetoric
at the thought of cutbacks in government spending. The poor will be starving in
the streets, to hear the politicians and the media tell it.
Party On
But the amount of money it would take to keep the poor from starving in the
streets is chump change compared to how much it would take to keep on feeding
unions, subsidized businesses and other special interests who are robbing the
taxpayers blind.
Letting armies of government employees retire in their 50s, to live for
decades on pensions larger than they were making when they were working, costs a
lot more than keeping the poor from starving in the streets.
Pouring the taxpayers’ money down a thousand bottomless pits of public and
private boondoggles costs a lot more than keeping the poor from starving in the
Bankruptcy says: “We just don’t have the money.” End of discussion.

Cartoon of the Day: If Guns Kill People….

The reason college kids go gaga over Obama

The reason college kids go gaga over Obama



Younger voters are usually liberal anyway – until they
get a real job and see how much the government takes out of their paycheck. By
the time they get married and have kids, the natural equilibrium in politics is
re-established and a majority become Republicans.

But how could they have
been fooled by such a charlatan? A new study shows that college students fail to
develop critical thinking skills.


An unprecedented study that followed several thousand undergraduates
through four years of college found that large numbers didn’t learn the critical
thinking, complex reasoning and written communication skills that are widely
assumed to be at the core of a college education.
Many of the students graduated without knowing how to sift fact from opinion,
make a clear written argument or objectively review conflicting reports of a
situation or event, according to New York University sociologist Richard Arum,
lead author of the study. The students, for example, couldn’t determine the
cause of an increase in neighborhood crime or how best to respond without being
swayed by emotional testimony and political spin.
Arum, whose book “Academically Adrift: Limited Learning on College Campuses”
(University of Chicago Press) comes out this month, followed 2,322
traditional-age students from the fall of 2005 to the spring of 2009 and
examined testing data and student surveys at a broad range of 24 U.S. colleges
and universities, from the highly selective to the less selective.
Forty-five percent of students made no significant improvement in their
critical thinking, reasoning or writing skills during the first two years of
college, according to the study. After four years, 36 percent showed no
significant gains in these so-called “higher order” thinking

Perhaps it’s because students are more likely to get professors who believe
in brainwashing rather than teaching.

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Obama’s Tucson Memorial Speech Was More Manipulation

Obama’s Tucson Memorial Speech Was More Manipulation

Lloyd Marcus


When I was a kid, my black dad spoke with what felt like admiration about
Adam Clayton Powell, Jr. Powell was a handsome, articulate, famed, and powerful
black minister and congressman. Despite adulterous affairs with women in his
church, charges of financial misconduct and wild parties on his yacht, it was
said that women joined Powell’s church several times for the thrill of coming to
the front of the congregation to shake his hand.
My dad has been the epitome of character all of my life. And yet, something
about Powell’s persona and ability to deliver a riveting sermon fascinated my
dad. As a kid, given Powell’s lack of character, I did not hold the smooth
talking playboy minister in high regard.
Conservative intellectuals’ rave reviews of Obama’s memorial speech for the
Tucson shooting victims give me an insight into my dad’s positive view of
Obama’s speech struck me as more of the same; his masterful sleazy bait and
switch talking from both sides of his mouth. In a nutshell, while saying the
shooting had nothing to do with politics, Obama lectured Americans about the
need for more civility in political speech.
Meanwhile, Obama’s minions have written thousands of articles holding the
Tea Party Movement, Sarah Palin, Rush Limbaugh, Sean Hannity and Mark Levin
responsible for the shooting. Even Michelle Obama chimed in with her letter
calling for more civility.
When Obama said we need to tone down our language for Christina Green, the
little girl who was killed in the shooting, it turned my stomach; how
exploitative and manipulative- so typically Democrat. It felt like a moment from
the liberal Democrat Senator Paul Wellstone Memorial, another memorial which the
Democrats exploited for political gain. “Do it for Paul! Do it for
So when conservative guru Dr. Charles Krauthammer and the Fox News team
gave Obama almost tearful rave reviews for his brilliant speech, I thought, “Am
I crazy?”


Then, I realized, like my dad, Krauthammer and the Fox team are
intellectuals. They “get off” on appearances and sounding “smart.”  I’m just a
regular guy who puts stock into who a person really is — people who say what
they mean, mean what they say, and do it.
Listening to Obama’s speech, all I heard was a despicable man exploiting
the event to silence opposition to his destruction of America as we know it.
Frankly, I am proud to be named among the tea party patriots, rather than
the political elites on both sides of the isle. We have had enough of putting
pretty smooth talking scoundrels in political office who betray us. I’ll take
character over eloquent oratory, any day.
Lloyd Marcus, Proud Unhyphenated American

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Confessions of a Black
, foreword by Michelle Malkin, written by
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