Mark Stey on entitlements:
Recently, in the London Telegraph, Liam Halligan bemoaned the way commentators focus on America’s $14 trillion of debt — i.e., the “debt ceiling” debt — without factoring in the entitlement liabilities of Medicare, Medicaid, and Social Security. That makes America’s real debt some $75 trillion, or five times GDP. Our own Kevin D. Williamson puts the FDR/LBJ entitlement liabilities a little north of $100 trillion. Once you add in state and municipal debt, you need to add a zero to that reassuringly familiar $14 trillion hole. The real hole goes ten times deeper: $140 trillion — or about twice as much as America’s total “worth.”
Click here to read the complete article
Brett Stephens has written an excellent article about the new developments in the Middle East in the aftermath of the border crossings into Israel by Arabs. It's about time we came to the realization that there will never be peace in the region.
Click here to read the article.
Newt Gingrich throws House GOP under the bus. Good analysis of the former speaker rejection of Congressman Ryan's Medicare reform. This article clarifies why my fellow conservatives will vote for the Republican nominee in 2012, but will work very hard to defeat Gingrich in the primaries.
Click here to read the article in The Wall Street Journal
On the subject of Newt Gingrich, here is Krauthammer predicting that Gingrich will not recover from the comments he made.