March 12, 2010, 10:59 am
Via John Stoessel:
Medicare already faces a $30 Trillion deficit. The bigger issue is that Democrats are poised to make cuts in Medicare -- something that is incredibly difficult to do -- but instead of applying those cuts towards Medicare, they are applying it towards a lavish new entitlement program.
Of course, that assumed that the spending estimates for the new health care plan are meaningful, which is highly unlikely, since every single entitlement of this kind has always vastly outspent its initial estimates. Greece, here we come.
October 15, 2009, 11:18 am
Via John Stoessel:
Moore declares capitalism evil, but he's never clear about what "capitalism" means. Considering how much time he spends documenting the cozy relationship between business and government, I thought he might mean "state capitalism."
But then he uses the term "free market" as a synonym for what he doesn't like.
What does the free market have to do with businesses manipulating government and strong-arming Congress for bailouts? Moore properly condemns both.
A libertarian student at GWU pushes Michael Moore on this issue, captured on video.
In the movie, Moore apparently:
visits the National Archives to see if the Constitution establishes capitalism as the country's economic system. Seeing the words "people," "union," and "welfare" in the document, he says, "Sounds like that other ism."
The reason is because free-market capitalism is not a system. It is the un-system. It is the lack of a system. It is the chaotic, anarchic, bottom-up actions of 300 million people acting to direct their lives as they see fit and improve their own financial well-being. The fact that it works without top-down coordination, that the right number of pencils get manufactured each year without a pencil czar, is a testament to the power of a few simple tools, particularly price, in signaling to individuals where they might best employ their own time and capital.
