Archive for December 18th, 2009

“Shakedown in Copenhagen” by Pat Buchanan

Friday, December 18th, 2009

If you would know what Copenhagen is all about, hearken to this nugget in The Washington Post’s report from the Danish capital.

“Ethiopian Prime Minister Meles Zenari — who is representing all of Africa here — unveiled his proposal Wednesday for a system in which rich countries would provide money to poor ones to help deal with the effects of climate change. …

“Zenawi said he would accept $30 billion in the short term, rising to $100 billion by 2020. … This was seen as a key concession by developing countries, which had previously spurned that figure … as too low.”

There was a time when a U.S. diplomat would have burst out laughing after listening to a Third World con artist like this.

But not the Obamaites. They are already ponying up.

Secretary of Agriculture Tom Vilsack just pledged $1 billion at Copenhagen to developing countries who preserve their forests. Thus, America, $12 trillion in debt and facing a second straight $1.4 trillion deficit, will borrow another $1 billion from China to send to Brazil to bribe them to stop cutting down their trees.

When you slice through the blather about marooned bears and melting ice caps, oceans rising and cities sinking, global warming is a racket and a crock. It is all about money and power.

Copenhagen has always been about an endless transfer of wealth from America, Europe and Japan and creation of a global bureaucracy to control the pace of world economic and industrial development.

End game: enrichment and empowerment of global elites at the expense of Western peoples whose leaders have been bamboozled by con artists.

Read the rest of the article here.

“The Rising Tide of Red Ink” by Rich Tucker

Friday, December 18th, 2009

The real estate market in the U.S. hasn’t yet recovered from the subprime meltdown. These days, though, the bigger worry ought to be a federal government meltdown — likewise triggered by overborrowing and an inability to repay debts.

When the 2009 fiscal year wheezed to a close in September, our government had borrowed $1.4 trillion. That’s more than 11 percent of the entire country’s GDP for the year. It’s the largest deficit since the end of World War II, when there was an actual life-or-death crisis for Washington to deal with.

Faced with this massive deficit, Congress will act to … increase the amount it’s allowed to borrow. The House just passed a bill that would allow the federal government to owe as much as $12.4 trillion — $290 billion more than the current limit, an amount our government expects to reach before the end of the year. Look for another increase in the debt ceiling next year.

Meanwhile, all the talk in Washington is of whether to pass a health care bill that would add trillions to the debt in a misguided attempt to “save” money. Oh, and don’t forget cap and trade, passed by the House and under consideration by the Senate. That bill, too, has a price tag in the trillions and would cost many jobs as well.

Instead of being worried about an entirely hypothetical rise in sea levels, it’s time to deal with the very real, ever-rising tide of red ink. As economic historian Niall Ferguson warned recently in Newsweek, “Unless entitlements are cut or taxes are raised, there will never be another balanced budget.”

Read the rest of the article here.