The Great Rip-off
A major element has been the almost incredible increase in "earmarking" (pork) in Congress. A story in the New York Times this morning indicates that this orgy of "delivering dollars to constituents" (only well-healed ones, in actually) will continue apace under the Democrats.
Why is this happening? The answer, I think, is that hard times are coming. Already the foreign-exchange markets are nervous that out Chinese creditors will pull the plug, as of course one day they must. The only question is the timing, as our Asian friends want to crack down in such a way as to minimize their own loss.
I am reminded of the following situation. When I started graduate school at New York University in 1956 the college had two campuses: the historic location around Washington Square in Greenwich Village and an uptown campus in the Bronx. The latter was a beautiful Beaux-Arts design, rivalling the Columbia Campus. It became clear, though, that one of the campuses had to go.
It was decided to sacrifice the uptown campus. As the rumors circulated, people who worked there began to privatize--small pieces of office furniture, books, electronic equipment, and so forth. By the time that New York State took over in 1973 there wasn't much left.
Is this is what is happening to America now?