What don't liberals understand about bloated government? Instead of a commission made up of politicians who created the problem, outside auditors with no political connections should be brought in and empowered to eliminate every government agency that does not produce services essential to strengthening the nation.
They can start with the Departments of Education, which does not educate, Energy, which produces none, Housing and Urban Development, which builds no houses and Veterans Affairs, whose responsibilities can be handled by the Defense Department. Some of these -- and many others -- were created as political gifts to various constituencies. We can't afford them. They can be eliminated. Loads of money can be saved.
In April, Treasury Secretary Timothy Geithner said on the Fox Business Network there was "no risk" America's credit rating would be downgraded. Like so many other forecasts by this administration, he was wrong.
Ric Edelman, chairman & CEO of Edelman Financial Services, rated by Barron's as America's top independent financial adviser, tells me the market's downturn "is a political reaction, not an economic reaction. Soon, investors will realize their folly, and prices will recover nicely." He adds, "The economy is improving. Growth is slower than we'd like, but growth it is ... the 500 biggest companies in America are still sitting on $1 trillion in cash."
Getting that $1 trillion off the sidelines will also require a different political reaction. That will come in November 2012, which cannot come fast enough.