Archives: Media's Quick-Change Candidate

-Posted by D. Worth (US) | for- M. Barbay (France)

For those who believe in an "Obama is magic" Economy... Think again!

Today's Links are for you...
First Take a look at Liberal's Claim to Fame: Child Healthcare:
Hawaii is dropping the only State universal child health care program. in the country just seven months after it launched! Why?
"People who were already able to afford health care began to stop paying for it so they could get it for free," said Dr. Kenny Fink, the administrator for Med-QUEST at the Department of Human Services. read.
Next: Would Obama, Dems Kill 401(k) Plans? #
James Pethokoukis presents a few observations, and discusses what "quick Changes" House Democrats might have in store...more.

More at Powerline: Argentina spreads the wealth
Scott points to an article by Monica Showalter, South America expert on the editorial staff of Investor's Business Daily, who writes:
"Nationalization may pay the bills now, but it poisons prospects for growth. For that reason, Argentina's sovereign bonds now trade at 25 cents to the dollar and yield 30%.

With no growth, another default becomes more likely after the pension move. The market is acting accordingly. Yet Congress resists reforming the U.S. public pension system as its liabilities pile up as baby boomers start to retire.

If the next president sees private corporations as the class enemy and taxpaying as "patriotic," and Congress continues to look at private 401(k) assets as a public piggy bank, there's little doubt the same mess in Argentina could happen here, too. It's worth thinking about.
Scott at Powerline also points out:
"Today the Journal devotes an editorial to the pending Argentine pension seizure, drawing a cautionary note for Americans. In a related story today, Moffett finds the execrable Argentine president "accusing the [private pension] funds of having instrumented 'policies of plunder.'"

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