The Corner

Is Anyone Sane in Washington?

Given that Greece has fallen off a cliff and much of southern Europe is on the brink, it makes no sense at all for the president to propose even more borrowing for cap-and-trade, or for further utopian proposals on the European model. Given the massive deficits incurred these last two fiscal years, we have already lost much of our diplomatic leverage overseas (as the secretary of state has noted), not to mention any moral credibility in admonishing Europe to rein in its profligate spending.

What is surreal is that, having been given the great didactic gift of seeing the Europeans go off the cliff ahead of us, this administration has hit the accelerator, not the brakes – almost as if it wishes to beat Europe down into the abyss.

I can’t think of any time in recent history when an entire array of tax increases — at the state and local levels, in the income tax rates, in new health-care charges, and in changes to payroll-tax caps to come – has not merely had no effect in reducing the deficit, but has coincided with ever more spiraling debt.


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