Manhattan Contrarian

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Can't Wait For The Second Term

Now that Barack Obama doesn't have to spend 24/7 running for president, is he going to get back to the job and, say, actually try to tackle the problem of the debt?

If you think he'll do that, I say you don't know the man.  Here's my prediction: He's basically going on vacation.  Lots of Hawaii, lots of golf, maybe a top-notch European resort playground for Michelle and the kids.  Lots of pomp and circumstance with himself as the center of attention.  Lots of state dinners.  Occasionally he'll take a couple of hours and give a speech blaming whatever problems there are on the Republicans.  What are we going to do about it?  He's got the job for four years and he can't be fired except for a process way too cumbersome to even try.

Meanwhile, which country has more government debt per capita, the U.S. or Greece?  It's the U.S. by quite a wide margin - $53,378 per capita versus $39,384 for Greece.  The news from Greece is all riots and arson.  The EU is demanding a two-year increase in the retirement age before granting the next bailout.  The horror!  Let's burn the place down!  Plenty of good photos at http://www.powerlineblog.com/archives/2012/11/back-to-work-the-debt.php

When your livelihood comes from making money in a private job, and you want to make a better livelihood, you can work longer or harder or better or smarter and make more money.  Result:  more harder and better work, more goods and services produced, better off populace.  When your livelihood comes from hand-outs from the government, and you want to make a better livelihood, you do it by putting political pressure on the government.  Result: riots.  No reason to work at all, because there are no rewards to be had there.