The title to President Obama’s budget refers to a new era of responsibility. Responsible budgeting begins with credible economic forecasts. The Obama economic forecast doesn’t merely reflect the return of the famous Rosey Scenario, but puts Rosey in fantasyland. Don’t take my word for it, just look at the numbers compared to what the Blue Chip consensus of private forecasters are saying. To begin, the Obama budget assumes the economy will contract only 1.2 percent this year. In the current quarter, the economy is already contracting at an annualized rate …
Anyone who dares to suggest there is any unsettled science related to global warming is quickly ridiculed by the establishment media, but as Debra Saunders documented yesterday environmentalists are far worse when it comes to ignoring science when making public policy decisions. Saunders notes that last week the San Francisco Public Utilities Commission concluded that proposed giant turbines placed under the Golden Gate Bridge would generate power from the bay’s tidal flow at a cost of 80 cents to $1.40 per kilowatt hour. San Francisco’s utility, Pacific Gas and Electric …
