The big news, as far as the media are concerned, is the political game of debt-ceiling chicken that is being played by Democrats and Republicans in Washington. But, however much the media are focused on what is happening inside the Beltway, there is a whole country outside the Beltway — and the time is long overdue to start thinking about what is best for the rest of the country, not just for right now but for the long haul.
Judging from President Obama’s lack of knowledge of basic free-market economics, I suggest that he invite Professor Walter E. Williams and author Thomas Sowell, two of America’s most eminent economists, to the White House to teach the President a course in basic economics — not the economics of Karl Marx, Nicolai Lenin, or Saul Alinsky, but the economics of Adam Smith, Frederic Bastiat, Jean-Baptiste Say, Milton Friedman, Ludwig Von Mises, and Friedrich Von Hayek, on which our free society and capitalist system are built. And since both Williams and Sowell are black Americans, he will see that free-market economics is not racially biased toward whites. Indeed, he will discover that two and two are four no matter what color you are.
Walter Williams is associated with that paradoxical phenomenon typically known as “black conservatism.” However, while Williams is a fierce opponent of the leftist political ideology that has overcome the majority of his fellow black Americans — he is a rightist — it is not altogether technically accurate to describe him as a conservative.
A lot of good people who believe, as I do, that we need to balance the federal budget have fallen for a very bad idea. I’m referring to the notion that a balanced budget amendment will somehow help solve the fiscal disaster our country faces.
It’s been more than two and a half years since Barack Obama was inaugurated President of the United States. During that time he seems to have undergone some kind of metamorphosis from a left-wing, radical, socialist community organizer to the leader of the Democrat Party. And because the establishment media sees him mainly as a Democrat politician they are a bit confused by his refusal to act like a normal Democrat in the give and take between Dems and Republicans on the Hill.