By Patrick J. Buchanan Is 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 […]
By Patrick J. Buchanan Greece this past weekend saw the worst rioting since the debt crisis began. After Athens had announced new tax hikes and budget cuts to reduce a deficit of 13 percent of gross domestic product, mobs drove guards from Greece’s Tomb of the Unknown Soldier and attacked police.
By Patrick J. Buchanan We inherited the worst situation since the Great Depression. That is the reflexive response of President Obama to the troubles from which he has been unable to extract his country. Even before the inauguration, he says, there were projections of a $1.2 trillion deficit for 2009. That deficit is not my […]
By Patrick J. Buchanan A decade ago, Oldsmobile went. Last year, Pontiac. Saturn, Saab and Hummer were discontinued. A thousand GM dealerships shut down. To those who grew up in a “GM family,” where buying a Chrysler was like converting to Islam, what happened to GM was deeply saddening. Yet the amputations had to be […]
By Patrick J. Buchanan “I used to think it would take a great financial crisis to get both parties to the table, but we just had one,” said G. William Hoagland, a former adviser to the Senate Republican leadership on fiscal policy. “These days, I wonder if this country is even governable.” Quoted in The […]
By Patrick J. Buchanan “It’s time to stop worrying about the deficit — and start panicking about the debt,” the Washington Post editorial began. “The fiscal situation was serious before the recession. It is now dire.”