Programming Note

Out of town for a few days, so blogging will be light. We have two big issues in the Congress right now, Cap and Trade and Financial Reform. My sense is that Cap and Trade won't pass unless significant sweeteners for coal state Democrats are thrown in the mix, in which case, it won't actually do much to reduce Carbon Dioxide emissions. We should oppose this bill for those reasons and because it will be one more way for the Congress to rewards special interests and continue to rake in campaign cash from same. I intend to eventually post about how the simplicity and fairness of the tax system contribute to economic growth; it is not sufficient to merely go for reductions in taxation and spending, although they are important as well. Cap and trade, like the health care Obamanation is another step in the wrong direction.

On financial reform, I blogged on Sunday on this issue. We should remain vehemently opposed to the Dodd's bill because it keeps Too Big To Fail alive and well, permanently entrenching crony capitalism in our system.