August 4, 2010

Click on WORD or PDF for full content

WORD

PDF

Christopher Hitchens comments on Hugo Chávez’s sanity after visiting with the dictator.

Recent accounts of Hugo Chávez’s politicized necrophilia may seem almost too lurid to believe, but I can testify from personal experience that they may well be an understatement. In the early hours of July 16—just at the midnight hour, to be precise—Venezuela’s capo officiated at a grisly ceremony. This involved the exhumation of the mortal remains of Simón Bolívar, leader of Latin America’s rebellion against Spain, who died in 1830. According to a vividly written article by Thor Halvorssen in the July 25 Washington Post, the skeleton was picked apart—even as Chávez tweeted the proceedings for his audience—and some teeth and bone fragments were taken away for testing. The residual pieces were placed in a coffin stamped with the Chávez government’s seal. In one of the rather free-associating speeches for which he has become celebrated, Chávez appealed to Jesus Christ to restage the raising of Lazarus and reanimate Bolívar’s constituent parts. He went on:

‘I had some doubts, but after seeing his remains, my heart said, “Yes, it is me.” Father, is that you, or who are you? The answer: “It is me, but I awaken every hundred years when the people awaken.” ‘ …

…Many people laughed when Chávez appeared at the podium of the United Nations in September 2006 and declared that he smelled sulfur from the devil himself because of the presence of George W. Bush. But the evidence is that he does have an idiotic weakness for spells and incantations, as well as many of the symptoms of paranoia and megalomania. …

 

In the National Review, Daniel Foster gives us details on Chris Christie’s battles in New Jersey.

It was supposed to have been the biggest fight of Chris Christie’s young administration: a May showdown over what Democrats in Trenton were calling the “millionaires’ tax,” designed, like each of the 115 statewide tax increases of the last decade, to paper over a small part of a yawning structural deficit by soaking the rich, one last time. Never mind that half the filings and a third of the revenue from the tax were to come from New Jersey’s business community, already battered by a perfect storm of overtaxation, capital flight, and recession. The Democrats were loaded for bear, and had the legislative majorities in place to pass the measure, having spent all winter threatening a government shutdown should Christie use his veto pen.

Democratic senate president Stephen Sweeney had even admonished, in a turn of phrase eminently Trentonian in its sheer backwardness, that “to give up $1 billion to the wealthy during this crisis is just wrong.” He promised that the millionaires’ tax was where the Democrats would “make our stand.”

The tax passed on party-line votes in the assembly and senate on May 20. Sweeney then certified the bill and walked it across the statehouse to Christie’s office, where the governor — who had vowed to balance the budget without raising taxes, and who’d developed a bewildering habit of keeping his promises — vetoed it. The whole thing took about two minutes.

“We’ll be back, governor,” Sweeney told Christie on being dispatched with the dead letter.

“All right, we’ll see,” came the reply.

And just like that, the biggest obstacle standing between Christie and the realization of his sea-changing, fiscally conservative first-year agenda was gone.

“We have not found our footing,” Democratic state senator Loretta Weinberg later said, still reeling from the decisive defeat. “I think a lot of people underestimated Chris Christie.”…

… The New Jersey that Chris Christie inherited was one that the Mercatus Center at George Mason University had ranked 46th in the Union on its economic-freedom index, and one whose business-tax climate the Tax Foundation had called the worst in the nation. Its narrow tax base had been in a death spiral for years: High-tech, high-paying jobs were fleeing — one Boston College study estimated $70 billion in wealth had left between 2004 and 2008 alone — and being replaced by low-wage, low-tech ones. For decades Trenton had jacked up taxes on the wealth that remained — inspiring new rounds of capital flight — and relied on weak budgetary rules and accounting tricks to kick growing shortfalls down the road. As a July 2009 study by Mercatus’s Eileen Norcross and Frederic Sautet concluded,

“the government of New Jersey has resorted to fiscal evasion — avoiding the rules meant to constrain spending — and has sustained spending growth through fiscal illusion, obscuring the full costs of policies by relying on intergovernmental aid and debt to achieve the current level of spending. The state has long emphasized current spending at the expense of higher taxes for future taxpayers. The costs of this approach are now coming due.”

Come due they had for Christie, who after less than a day on the job was being advised to borrow his way out of crisis. What he did instead set the tone for everything that followed. …

 

In the WaPo, Tom Shales pans Christiane Amanpour’s Sunday morning debut.

…It’s not that Amanpour seemed personally uncomfortable or constrained in her weekend debut — opening night was Sunday morning — but rather that she proved that she’s miscast for the role, her highly touted global orientation coming across as inappropriate and contrived on a broadcast that for three decades has dealt primarily with domestic politics, policies and culture.

…Amanpour announced her intention to “open a window on the world” now that she runs “This Week,” but the show was hardly a haven for isolationists, and refashioning it to take advantage of Amanpour’s specialty could, in a word, ruin it.

Exhibit A: During the roundtable portion of the show — from the beginning, “This Week’s” centerpiece and best feature — Amanpour didn’t stick to discussing news of the week with the show’s estimable, exceptional panelists — among them George F. Will and Donna Brazile — but instead brought in a foreign journalist seen earlier in the program, Ahmed Rashid (momentarily stationed in Madrid), for his views via satellite. It was awkward in form and proved negligible in content.

In fact, it became ludicrous when, near the end of the segment, the U.S. economy was discussed and Amanpour called upon Rashid, the Taliban expert, again even though he seemed of dubious relevance and authority to the topic at hand.  …

 

And we have NRO shorts. Here are two:

We didn’t have to wait long to see the first unintended consequence of the Dodd-Frank Act, the Democrats’ financial-regulation overhaul. Due to a last-minute change in the laws governing legal liability for the ratings agencies, bond raters such as Moody’s and Fitch asked bond issuers not to use their ratings until they got a “better understanding” of their legal exposure. This shut down the bond markets until the SEC was forced to temporarily suspend requirements that all bond offerings come packaged with credit ratings. “No one will know until this is actually in place how it works,” Sen. Chris Dodd famously said of the bill that bears his name. That is one thing he got right.

When the House Natural Resources Committee considered an amendment to end the Gulf drilling moratorium, 22 representatives voted in favor and 21 voted against. Yet the amendment failed — because five delegates, representing assorted U.S. territories, voted no. (Delegates can vote in committees but not on a bill’s final passage.) Of the five, one represents Puerto Rico, which, as a Caribbean island with 4 million people, perhaps deserves some voice in the matter. But the others were from Guam, American Samoa, the Northern Marianas, and the U.S. Virgin Islands, with a combined population short of 500,000. That’s considerably fewer than a congressional district — yet these four delegates cast deciding votes on a vital question of national policy. The practice of giving micro-territories a voice in Congress is questionable in any case, since it is essentially representation without taxation; but having four members on one committee from flyspecks that amount to Democratic pocket boroughs, each with a full vote, makes a joke of the strict democracy that the House of Representatives is supposed to stand for.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>