California is in trouble: Unemployment is over 13%, the state is broke and hundreds of thousands of people, many of them middle-class families, are streaming for the exits. But to some politicians, like Sen. Alan Lowenthal, the real challenge for California "progressives" is not to fix the economy but to reengineer the way people live. read more »
This is the second in a two part series exploring a pessimistic and an optimistic future for the United States. Part One appeared yesterday.
A positive assessment of US prospects rests on at least seven propositions. First, the current crisis is not inherently more threatening than many others, most notably the Civil War, the Great Depression, and two World Wars. Quality leadership, building on the resilient political and economic institutions of the country, will prove sufficient to bring about needed sacrifices and transformations. We have seen this many times in the past from the Progressive Era to the New Deal, the Second World War and the winning of the Cold War, which was a uniquely bipartisan triumph. read more »
This is the first in a two part series exploring a pessimistic and an optimistic future for the United States. Part Two will appear tomorrow.
I’m an old (76) 1950s type liberal, and have lived to see the election on the nation’s first mixed-race president, as well as some remarkable social change in the general status of women and ethnic minorities. The United States has a remarkable heritage of entrepreneurship and resilience in its democratic institutions. Yet there are cogent reasons to be fearful and pessimistic about our capacity to maintain our preeminence, at least in the medium run (10-15 years). read more »
For more than one-third of a century Jerry Brown has proved one of the most interesting and original figures in American politics--and the 71-year-old former wunderkind might be back in office in 2010. If he indeed wins California's gubernatorial election, the results could range from somewhat positive to positively disastrous. read more »
The Golden State is not so golden anymore. California is broke. With a $20 billion dollar deficit and tax revenues down 27% from last year, Governor Schwarzenegger looks to Washington D.C. for a bail-out to rescue the state from financial ruin. Like the executive passing a beggar on a street corner, Washington looks the other way. Unemployment is statistically 12.3%, but functionally, it runs closer to 20% of the work force. Nowhere is unemployment more tragic than in the Central Valley, the fruit and vegetable producer of the world. read more »
By Richard Reep
Until recently, Florida was the king of growth, agriculture, and tourism. Growth – at 900 immigrants a day from other states – characterized Florida’s landscape for over 30 years, and growing cities were in perennial battle with agriculture up until the watershed year of 2009. As a tourist destination, Florida claimed world-class status, which once served the state just fine. Now, gasping for breath and facing financial uncertainty, Florida’s leadership frantically seeks a new silver bullet to create jobs, focusing on biomedical research. This focus is timely and important, and can truly move the state in a new direction, and the state leadership’s resolve to diversify the economy should stay strong, even with a short-term lack of results. read more »
From health care reform and transportation to education to the environment, the Obama administration has--from the beginning--sought to expand the power of the central state. The president's newest initiative to wrest environment, wage and benefit concessions from private companies is the latest example. But this trend of centralizing power to the federal government puts the political future of the ruling party--as well as the very nature of our federal system--in jeopardy. read more »
There are those who believe that Sweden has a low level of unemployment. This is far from the truth. The combination of high taxes, generous government benefits and a regulated labor market has led to many Swedes to rely on handouts rather than work. The system does succeed in one thing: hiding the true unemployment. read more »
The rapid decline in public support for Democrats and President Obama represents one of the most breathtaking political collapses in modern times. Little over a year from a huge electoral triumph, President Obama’s level of support has dropped from around 65% to under 50%. The Democrats in Congress, who held as much as a 10% edge over the Republicans last spring, are actually losing a “generic” vote.
Many Republicans and conservatives may think this represents a confirmation of their values. Yet in reality, the Democratic meltdown has less to do with belated admiration for the GOP—their support as a party remains at historically low levels—than a question of a massive disconnect between the people in power and the large, middle-class majority. read more »
The evolving Greek fiscal tragedy represents more than an isolated case of a particularly poorly run government. It reflects a deeper and potentially irreversible malaise that threatens the entire European continent.
The issues at the heart of the Greek crisis – huge public debt, slow population growth, expansive welfare system and weakening economic fundamentals – extend to a wider range of European countries, most notably in weaker fringe nations like Portugal, Italy, Ireland, Greece and Spain (the so-called PIIGS). These problems also pervade many E.U. countries still outside the Eurozone in both the Baltic and the Balkans. read more »