Who’s Really Downgrading America?

By Patrick J. BuchananThe decision by Standard & Poor's to strip the United States of its AAA credit rating, for the first time, has triggered a barrage of catcalls against the umpire from the press box and Obamaites.S&P, we are reminded, was giving A ratings to banks like Lehman Brothers, whose books were stuffed with suspect subprime paper, right up to the day Lehman Brothers fell over Continue reading...

The Long Retreat of Liberalism

By Patrick J. BuchananThough President Obama has run rings about the Republican Party in the debt-ceiling debate, that party can yet emerge victorious, if it will stick to its guns.Clearly, the Republican strategy was not thought through, when the party chose the debt ceiling as the legislative terrain on which to fight its fiscal war.The president had wanted a clean debt-ceiling Continue reading...

The Dirty Old Man and the IMF

by Patrick J. BuchananSaturday was a bad day for the New World Order.New York police boarded the first-class cabin of an Air France jet bound for Paris to collar Dominique Strauss-Kahn, the head of the International Monetary Fund, a Grand Master of the Universe and the Socialist Party's hope to defeat President Nicolas Sarkozy in 2012.Strauss-Kahn, or DSK as he is known, was hauled Continue reading...

Barack Hussein Hoover?

By Patrick J. BuchananIs the world headed for a debt crisis to dwarf the one that befell us in 2008, when Treasury Secretary Hank Paulson stood aside and let Lehman Brothers crash?No one knows for certain. As Yogi Berra said, "it's tough to make predictions, especially about the future."But the probability of a financial crisis increased this week after President Obama's trashing of Continue reading...

European Union: R.I.P.?

By Patrick J. BuchananWhen communism collapsed in Moscow, Prague and Belgrade at the end of the Cold War, ethnic nationalism surged to the surface in all three nations and tore them apart into 24 countries.Economic nationalism is now resurgent across Europe. And it is hard to see how a transnational institution like the European Union, run by faceless bureaucrats, and the 16-nation Continue reading...