I have not been able to post anything for the pas week because I had surgery on my right hand and had no use of fingers. That does not mean I have not been thinking about various issues however. Now that I have fingers but no thumb, I will attempt to post some thoughts.
1. The Arizona law SB1070 has created a tremendous uproar. The reason for the uproar is either a fear that it will enable profiling or opposition to any restrictions on illegal immigration. While the law carefully states there is to be no profiling, it is reasonable for Latinos to worry about it. Personally, I think a better statement of Arizona's problem would have been to send the National Guard to the border. Nevertheless, as Milton Friedman once stated, you can not have free immigration in a welfare state. Thus the US must define who is allowed to immigrate and who is not and to enforce that definition. The current immigration law is out of date and creates bottlenecks for those people we most need to immigrate here.
2. Another Arizona Law, 100, surprised me. I didn't think in this environment the public would tax increases on themselves. Moreover, the argument that education and police and fire services would be sacrificed if 100 was not passed, is an old argument that surfaces any time government is faced with budget cuts. In fact, unless cuts are made in all areas, government will continue growing while liberty keeps declining. A good start for state and federal government would be to eliminate the departments of education, to eliminate public K-12 schools and move to a voucher system of private or charter schools.
3. Data released recently show that the private sector accounted for only 42 percent of income; the public sector accounted for 58 percent. The Obamacare is a takeover of about 1/6 of the economy. The student loan program is now totally a government industry. The financial regulation bills mking their way through Congress is a government takover of another 1/6 of the economy.
4. The US stock market has fallen about 10% in month. The market had been on an upward tear, but one must wonder why. The US is facing unprecedented debt levels. Unfunded liabilities are especially troubling. The EU is collapsing. Unemployment remains near 10 percent. The Bush tax cuts are expiring at then end of this year. Why should all this be met with expectations of higher earnings. The market rise is either a move away from risk or a temporary aberration of a sluggish or downward move. One would think that the performance of the economy followng the hue stimulus and jobs spending by the government would have been a final nail in Keynesianism.
5. Public sector unions should be barred. They arise only because of government; they, themselves are a taking -- from privately employed people to government employees. There is no competition and no profit maximizing firms to control the unions. Instead, SEIU continues growing, the National Teachers Unions continue growing, and all continue increasing the overall growth of government.
Quotation of the Day…
3 hours ago