Archive for the ‘American Exceptionalism’ Category
The lunacy of the left, Embracing Dictators
Taking liberties with progress
THE WALL STREET JOURNAL
What’s Wrong With the Golden Goose?
‘Secular stagnation’ isn’t to blame for lousy U.S. growth rates. Obama’s higher taxes and regulatory assault are.
Meanwhile, federal debt held by the public has doubled, so a return of interest rates to their postwar norms, roughly 5% on a five-year Treasury note, will send the cost of servicing the debt up by $439 billion, almost doubling the current deficit.
Large banks, under aggressive interpretation of the 2010 Dodd-Frank financial law, are regulated as if they were public utilities. Federal bureaucrats are embedded in their executive offices like political officers in the old Soviet Union. Across the financial sector the rule of law is in tatters as tens of billions of dollars are extorted from large banks in legal settlements; insurance companies and money managers are subject to regulations set by international bodies; and the Consumer Financial Protection Bureau, formed in 2011, faces few checks, balances or restraints
Since the Obama recovery began in the second quarter of 2009, public and private projections of economic growth have consistently overestimated actual performance. Six years later, projections of prosperity being just around the corner have given way to a debate over whether the U.S. has fallen into “secular stagnation,” a fancy phrase for the chronic low growth seen in much of Europe.
This is just another in a long line of excuses. America’s historic ability to outperform Europe is well documented; we call it American exceptionalism. It has always been based on the fact that the U.S has had better, more market-driven economic policies and our economy therefore worked better. But, as the U.S. economy is Europeanized through higher taxes and greater regulatory burdens, American exceptionalism is fading away, taking economic growth with it. (more…)
THE WALL STREET JOURNAL
The End of History, Part II
The new Advanced Placement U.S. history exam focuses on oppression, group identity and Reagan the warmonger
—President Ronald Reagan, speech at the Brandenburg Gate, Berlin, 1987
President Reagan’s challenge to Soviet Premier Mikhail Gorbachev remains one of the most dramatic calls for freedom in our time. Thus I was heartened to find a passage from Reagan’s speech on the sample of the new Advanced Placement U.S. history exam that students will take for the first time in May. It seemed for a moment that students would be encouraged to learn about positive aspects of our past rather than be directed to focus on the negative, as happens all too often.
But when I looked closer to see the purpose for which the quotation was used, I found that it is held up as an example of “increased assertiveness and bellicosity” on the part of the U.S. in the 1980s. That’s the answer to a multiple-choice question about what Reagan’s speech reflects.
No notice is taken of the connection the president made between freedom and human flourishing, no attention to the fact that within 2½ years of the speech, people were chipping off pieces of the Berlin Wall as souvenirs. Instead of acknowledging important ideas and historical context, test makers have reduced President Reagan’s most eloquent moment to warmongering.
The AP U.S. history exam matters. Half a million of the nation’s best and brightest high-school students will take it this year, hoping to use it to earn college credit and to polish their applications to competitive colleges. To score well on the exam, students have to learn what the College Board, a private organization that creates the exam, wants them to know. (more…)