Economy

At NRO, Jonah Goldberg on Democrats and the economy.

Biden’s keen ability to hear only awful news is symptomatic of a Democratic Party that isn’t merely eager to return to the White House, but desperate to launch a new New Deal.

The mind-set is on display in almost every speech. Sen. Hillary Clinton decried the policy of “giving windfall profits” to oil companies. She seems to believe that all of the money, everywhere, is the government’s, and your profits are a gift. Windfall profits are defined as too big a gift from government.

Montana Gov. Brian Schweitzer, borrowing a line from Obama, complained that John McCain wants to give “$4 billion in tax breaks for Big Oil?”

No. McCain wants to lower the corporate tax rate to make us more competitive with our rivals. Yes, oil companies are included — but by this logic (as my colleague Ramesh Ponnuru notes), Obama’s middle-class tax cut will be a tax break for hookers and serial killers.

The greatest irony is that the one area where the Democrats are right about American pain — high gas prices — is the one area where they’re most reluctant to do anything substantial. Why? Because global warming appears to be their best shot at finding a major crisis to justify a new New Deal.

Read the rest at National Review Online

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