Midnight Again in America

Yes, it's midnight again in America. Obama, in fact, is the only president other than Herbert Hoover to preside over an economy that shrank in real terms during his first term.  And Hoover, as I recall, was not re-elected.  Roosevelt's margin of electoral votes was 472 to 42. It is thus mindboggling to see Obama re-elected at all, much less by a margin of 332 to 206.  It's been midnight for the economy since Obama took office, and nothing he has proposed for his second term suggests that things will be any different.  If anything, they'll be worse, with the prospect of increased taxation, further tightening of job-killing regulation, and continued hostility toward the business community. The Congressional Budget Office is already telling us that 2013 will be a rough year.  Failure to prevent the nation from going over the fiscal cliff would plunge the country into a recession, with unemployment rising to 9.1%.  Combined with tax increases embedded in...(Read Full Article)