The lights are going out in America.
First, there is the Democratic Party's second unconstitutional power grab within a month's time:
When the D.C. voting-rights bill comes up for a cloture vote in the Senate this Tuesday, senators will face one overriding question: Will they uphold their oaths to support and defend the Constitution? If they give the District of Columbia a voting representative in Congress, they will break those oaths.Then there is the economy. Investor's Business Daily has a nice summary of the chaos being generated in Washington:
Article I specifies that “Representatives . . . shall be apportioned among the several States,” and this is confirmed in Section 2 of the 14th Amendment. One of the qualifications to be a congressman is to “be an Inhabitant of that State in which he shall be chosen.”
Congress itself has recognized that the only way the District of Columbia could get representation was through a constitutional amendment — Congress passed one in 1977 (the amendment failed to gain the approval of 38 states, and thus didn’t take effect).
Last Oct. 13, in trying to explain why the market had sold off 30% in six weeks, we acknowledged that the freeze-up of the financial system was a big concern. But we cited three other factors as well:Don Luskin has the perfect simile for the times we live in.
No wonder, we said then, that panic had set in.
- The imminent election of "the most anti-capitalist politician ever nominated by a major party."
- The possibility of "a filibuster-proof Congress led by politicians who are almost as liberal."
- A "media establishment dedicated to the implementation of a liberal agenda, and the smothering of dissent wherever it arises."
Today, as the market continues to sell off and we plumb 12-year lows, we wish we had a different explanation. But it still looks, as we said four months ago, "like the U.S., which built the mightiest, most prosperous economy the world has ever known, is about to turn its back on the free-enterprise system that made it all possible."