On the Record | Political Bonus for Early U.S.–UK Trade Negotiations

Please see my February 4^th wire for The American Spectator, ‘Political Bonus for Early U.S.–UK Trade Negotiations’:

America and Britain are on the cusp of a conservative revolution, if only their leaders have the courage to take action and the foresight to see the potential that lies before them. Of the people, there is no need to ask: The people are ready, “mouldering on the vine” (to paraphrase the musical “1776”), “for want of it.” Only those enriched by state emoluments stand opposed, poised to squelch any serious efforts to upend the status quo. So patriots beware.

President Trump’s impeachment in the U.S. Senate, for actions that warrant little more than censure (or less), is a distraction, a ploy to depress supporters’ resolve. Meanwhile, however much Britons may welcome repose after their exertions on behalf of Brexit, this is not the time to rest on their oars.

Now is the time to act. Britain’s post-election momentum, following Boris Johnson’s December win of a majority parliament, cannot dissipate. America is already in pre-election mode, with President Trump already rallying supporters to “keep America great.” Both countries must strike out to finish the job of returning power to the people.

Decentralizing power away from Washington and Westminster does more than simply return responsibility to legitimate spheres of action. It doesn’t happen in a vacuum. Those that are re-empowered — whether the states, communities, or individuals themselves — become active collaborators, enabling a dynamic element that strengthens local autonomy and perpetuates its hold over popular imagination and initiative.

“There is nothing more important for those who think they believe in freedom, in free enterprise and in private property,” Murray Rothbard realized, “than bringing these high-flown generalities to bear on the concrete problems of their daily lives.”

That the revolt against over-government is rising, simultaneously, in the United Kingdom and the United States, is no coincidence. Margaret Thatcher and Ronald Reagan were collaborators in a revolutionary movement toward minimal government and personal freedom. Disciples are undaunted, half a century later.

In June 2016, their paths converged again. Donald Trump was set to become the Republican presidential nominee when a majority of Britons (17.4 million) cast ballots in the EU referendum to exit.

Once more, opponents of the popular mandate set out to frustrate efforts to scale back government intrusion. And, in fairness, U.S.–UK leaders who were elected to bring power back to the people have let themselves get caught up in their adversaries’ tactics and allowed precious time to lapse. They can redeem themselves, but they need focus. A game plan going forward is imperative.

Read more . . .

Remarks are welcome on DMI’s Facebook page.

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My thanks to editor Wlady Pleszczynski of The American Spectator.

On the Record | Let the States Roar

Please see my latest post for the Quarterly Review, ‘Let the States Roar’:

Notice is given from its ‘Constitutional Affairs’ department that ‘The New York Sun . . . opposes a balanced budget amendment.’

The justification cannot be that The Sun favours deficit spending, for the broadsheet prides itself as a tribune for limited government, fiscal probity, and sound money — grounded on the Gold Standard.

An awareness of the speed of unforeseen circumstances is one likely scenario for the editorial stance: allowing for contingency language written into a balanced budget amendment to take into account war or domestic necessity requiring its temporary suspension, The Sun may reason that even such foresight would frustrate government efficacy.

This observer can only speculate. But one germane objection to a constitutionally mandated balanced budget arises in relation to criticism of the supply-side economic revolution of the 1980s. While true that lowering high marginal tax rates can increase government revenues — the famous Laffer Curve axiom — such tax reform itself is not conclusive of prudent government policy. No responsible tax proposal comes without its corollaries: limited government and budgetary restraint.

Read more . . .

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My thanks to editor Dr Leslie Jones of the Quarterly Review; and my appreciation to Foundation for Economic Education president, Lawrence Reed, for his assistance to me in framing America’s indebtedness.