by Charles Krauthammer • Washington Post
The report by Democrats on the Senate Intelligence Committee regarding CIA interrogation essentially accuses the agency under George W. Bush of war criminality. Committee Chair Dianne Feinstein appears to offer some extenuation when she reminds us in the report’s preamble of the shock and “pervasive fear” felt after 9/11.
It’s a common theme (often echoed by President Obama): Amid panic and disorientation, we lost our moral compass and made awful judgments. The results are documented in the committee report. They must never happen again. Continue reading
“In Washington it is common to tout the budget surpluses of the Clinton years as some momentous achievement, as though the point of economic policy is to run budget surpluses. Of course the point of economic policy is to produce an economy that improves the lives of the people in a sustainable way. Clinton badly flunked this test.”
by Dean Baker
The truth is often painful but nonetheless it is important that we live in the real world. Just as little kids have to come to grips with the fact that there is no Santa Claus, it is necessary for millions of liberals, including many who think of themselves as highly knowledgeable about economic matters, to realize that President Clinton’s policies sent the economy seriously off course.
In Washington it is common to tout the budget surpluses of the Clinton years as some momentous achievement, as though the point of economic policy is to run budget surpluses. Of course the point of economic policy is to produce an economy that improves the lives of the people in a sustainable way. Clinton badly flunked this test.
The Clinton economy was driven by a stock bubble. This is not a debatable point. The ratio of market-wide stock prices to corporate earnings was well over 30 to 1 at the peak of the bubble in 2000. This is more than twice the historic average. Continue reading