Old Economy on Dialysis

Our celebrity president with the failed old public sector ideas. Where's the new economy some of his so hip supporters thought they were getting? Daniel Henninger.

James Pethokoukis figures the Dems are getting ready to raise taxes, with the help of Fed Chairman Bernanke. The WSJ suggests Germany's Angela Merkel for Fed chairman and rebukes Bernanke:

...it is also directly monetizing federal debt by buying Treasurys. The latter move appears to have had the opposite of its intended effect, scaring the world's investors to bid up long-term rates for fear the Fed has sold its independence to Congress and the White House. The Fed should call a halt to such purchases at its monetary policy meeting later this month.

The world is watching. Americans are too.

P.S. Rep. Paul Ryan (R-Wi) Q&A with Bernanke. Video.