Neros of D.C.
Like a collection of modern day Neros, the Washington class of both stripes is fiddling while the economy is burning down.
The answer to much of what ails the country's economic hemorrhage, from foreclosures to health care to education, is not expensive Band-Aids and tourniquets like the stimulus bill, Obamacare and cap and trade. It's real private sector investment in long-term, competitive manufacturing and engineering jobs that are globally competitive.
All the current bills do is incentivize businesses to move off shore as much as they can because their products are not competitive. The administration (and previous ones) lack the courage and now the resources to challenge China's artificial exchange rate, so their cost advantage will continue unabated.
Here's the big picture, long-term view, in case the commentators have not made this clear.
The Asian perspective spans generations, not years. They are using this generation to run down U.S. economic power to the point where the country cannot challenge the Chinese — politically or militarily — in the next generation. More U.S. national debt held by the Chinese government accelerates this process and emboldens the Chinese to impose their worldview on everyone else.
If you don't think this is important, ask Google what happened to their business when the Chinese hackers allegedly shut them down.
Wake up Neros. Stop adding to the debt. Stop adding to public payrolls and public entitlements. Soon, the Chinese will ask to us to swap Alaska and its resources for a few trillion in our debt, or open up offshore drilling to them. The country will have little choice but to comply. We'll be too broke to say no to our biggest creditor, and too weak to do anything else.