College Bubble Bursts After Decades of Extravagance by Michael Barone
Markets work. But sometimes they take time.
That's the uncomfortable lesson that proprietors of America's colleges and universities are learning.
Markets work. But sometimes they take time.
That's the uncomfortable lesson that proprietors of America's colleges and universities are learning.
Many loud voices in the debate over immigration have been insisting that effective border enforcement must precede any steps that legalize the status of current illegal immigrants.
"We're eyeball to eyeball, and I think the other fellow just blinked," Secretary of State Dean Rusk famously said during the Cuban missile crisis.
"What difference, at this point, does it make?"
Tomorrow, the George W. Bush Presidential Center will be dedicated at Southern Methodist University in Texas. It's a good time to look back on the performance of the 43rd president, who has been almost entirely missing from the public stage these past four years.
Chaos. Things seemed to be spinning out of control on many fronts this week.
"More tears are shed over answered prayers," the 16th century nun St. Teresa of Avila is supposed to have said, "than over unanswered ones."
"Without legislative language," Senate Judiciary Committee Chairman Patrick Leahy declared in a statement March 20, "there is nothing for the Judiciary Committee to consider this week at our markup."
"Divisive." That's a word that appeared, often prominently, in many news stories reporting the death of former British Prime Minister Margaret Thatcher.
One senses the writers' disapproval. You're not likely to find "divisive" in stories reporting the deaths of liberal leaders, although every electoral politician divides voters.
"Divisive" here refers to something specific. It was Margaret Thatcher's special genius that she systematically rejected the conventional wisdom, almost always well-intentioned, of the political establishment.
Instead, she insisted on hard, uncomfortable truths.
British Conservatives like Harold Macmillan accepted the tyranny of trade unionism because they had guilty memories of the slaughter of the working-class men who served under them in the trenches in World War I.
Thatcher, who as an adolescent before World War II saved money to pay for a Jewish girl to escape from Austria to England, felt no such guilt.
We Americans are lucky, though we seldom reflect on it, that we have good neighbors.
In East Asia, Japan, South Korea, Taiwan and the Philippines face challenges from China over islands they have long claimed in the East China Sea.
In Europe, Germany and other prosperous nations face demands for subsidies from debt-ridden nations to avoid the collapse of the Euro.
When Southern Europeans look across the Mediterranean, they see Muslim nations facing post-Arab spring upheaval and disorder.
Forty years ago, American railroads were in trouble. The Penn Central, the largest railroad, had recently gone bankrupt.
Are Republicans no longer the party more inclined to military interventions and an assertive foreign policy?
What parts of America have been growing during these years of sluggish economic growth?
Rarely does a political party issue a document so scathingly critical of itself and its most recent presidential nominee as the report of the five-member Growth and Opportunity Project of the Republican National Committee.
In an opinion article in the Columbus Dispatch, Ohio Republican Sen. Rob Portman announced that he has changed his mind and now supports same-sex marriage.
The College of Cardinals met in conclave on Tuesday to begin the process of electing a new pope. The cardinals have been getting plenty of advice from American journalists.
They're flailing. That's the impression I get from watching Barack Obama and his White House over the past week.
Things haven't gone as they expected. The House Republicans were supposed to cave in on the sequester, as they did on the fiscal cliff at the beginning of the year.
They would be so desperate to avoid the sequester's mandatory defense cuts, the theory went, that they would agree to higher taxes (through closing loopholes) on high earners.
The Dow set a new high on Tuesday, but the larger economy is a different story. What if today's sluggish economic growth turns out to be the new normal? That's the unsettling question asked by some of our most creative economic thinkers.
And the people asking it are not necessarily partisan opponents of the Obama administration. They argue that economic growth rates were disappointing even before the financial collapse and recession of 2007-09.
Take Tyler Cowen, author of the e-book (belatedly published in print) "The Great Stagnation." Economic growth is the product of increases in the labor supply and productivity, he argues uncontroversially.b
Do we have a president or a perpetual candidate? It's not an entirely unfair question.
Even as Barack Obama was warning of the dreadful consequences of the budget sequester looming on March 1, he spent days away from Washington, apparently out of touch with Democratic as well as Republican congressional leaders.
In the meantime, Obama fans were lobbing verbal grenades at none other than The Washington Post's Bob Woodward.
Barack Obama is said to believe that he can win the political fight over the sequester. That's certainly the conventional wisdom.