Publish Or Perish

Means Test
On Monday, Mr. Brown announced that the shortfall had shot up again, from $9.2 billion in January, blaming a drop in revenue caused by a bad economy and court rulings barring spending cuts the state had approved. He proposed $8.3 billion in cuts, slashing welfare, social services and health care for the elderly, and a 5 percent cut in hours for state employees.... “The fact is, California has been living beyond its means,” Mr. Brown said. “The United States of America and its federal government has been living beyond its means. This is a day of reckoning, and we have to take the medicine.” (NYT, 5/14/2012)


Recall Brown? The fact is that even Liberal politicians know that the spending party is over. With the exception of tax increases - which Republicans reject - the remedies are the same. How come the California state house is not under siege?


Loathing on Wall Street
On Monday night Mr. Obama spoke at a fund-raiser at the Manhattan home of Tony James, the president of the private-equity giant, the Blackstone Group. Attendees, many from the private-equity world, paid $35,800 a head for the privilege of dining with the President who purports to loathe Wall Street when he isn't asking its greedy denizens to redistribute their wealth to his campaign. Mr. James donated the legal maximum of $35,800 to the Obama campaign and the Democratic National Committee in November 2011. (WSJ, 5/14/2012)

We have never thought that the inhabitants of Wall Street were really any smarter than the rest of us, despite what they think. Arguably they are less intelligent.  Our current thinking is, well....evolving.  If they are dumb enough to stick with Obama then we say: Regulate away!  You geniuses deserve what you get.