Who’s Really Downgrading America?

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The 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 …

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Fiscal Hawks vs. Security Hawks

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The Republican Party is a stool that stands on three legs: social conservatives, economic conservatives and foreign policy conservatives. Yet since Ronald Reagan departed and George W. Bush arrived, that coalition has been under a growing strain that may yet pull it apart and redefine what conservatism means in 21st …

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Obama’s Dilemma — and Ours

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Seventy-one years ago this spring, after the German army had broken through the French lines, British Prime Minister Winston Churchill flew to France to consult his embattled allies on how to stop the advance. “Where is the strategic reserve?” Churchill urgently asked the French commander in chief, Gen. Maurice Gamelin, …

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Obama in a Dream World

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At the G-8 summit in Deauville, France, the news was dramatic, delivered by Nicolas Sarkozy of France and Barack Obama. To sustain the Arab Spring, America, Europe and Japan will provide $40 billion in fresh foreign aid for Arab nations that take the democratic path. The $40 billion breaks down …

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The Fed Trashes the Dollar

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If it is the first responsibility of the Federal Reserve to protect the dollars that Americans earn and save, is it not dereliction of duty for the Fed to pursue a policy to bleed value from those dollars? For that is what Chairman Ben Bernanke is up to with his …

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