1. A Stimulus Bill that will burden our economy and future generations: annual deficits averaging in excess of $926 billion over the next decade and more than triple what taxpayers pay each year in interest charges on the national debt, according to new estimates released Friday by the Congressional Budget Office. (Politico.com) Anna Schwartz at the National Bureau of Economic Research with Milton Friedman, she wrote A Monetary History of the United States, a book that forever changed our knowledge of economics and the way that governments operate. Bernanke is right about the past, Schwartz says, but he is fighting the wrong war today; the present crisis has nothing to do with a lack of liquidity. President Obamas stimulus is similarly irrelevant, she believes, since the crisis also has nothing to do with a lack of demand or investment. The credit crunch, which is the recessions actual cause, comes only from a lack of trust, argues Schwartz. Lenders arent lending because they dont know who is solvent, and they cant know who is solvent because portfolios remain full of mortgage-backed securities and other toxic assets. Monetarism Defiant by Guy Sorman, City Journal Spring 2009 2. Hobbles our Counterterrorism Efforts Over the past couple of weeks, we have been carefully watching the fallout from the Obama administrations decision to release four classified memos from former President George W. Bushs administration that authorized enhanced interrogation techniques , our contacts in the intelligence community report that the release of the memos has had a discernible chilling effect on those in the clandestine service who work on counterterrorism issues .the debate over the morality of such interrogation techniques has distracted many observers from examining the impact that the release of these memos is having on the ability of the U.S. government to fulfill its counterterrorism mission. (Stratfor.com) 3. Disavows the Exceptionalism of America. President Obama probably wouldnt have enjoyed a beer, or a wine, with Alexis de Tocqueville, who, in his seminal work in 1835 referred to America as exceptional. Instead, he goes around the world apologizing for a multitude of wrongs and oversteps by his country, calls us arrogant, and finds common ground with tyrants and tin-pot dictators. He hires an attorney-general who calls Americans cowards, and glad hands leaders who claim the economic woes of the world are due to white people. Certainly, there are errors in our history, but where is our President trumpeting the greatness of a country that has accumulated more power than any other in history, and used it more judiciously? By comparison, President Sarkozy, in Senegal in 2007, actually said this about his countrys colonialism: They took, but I would like to say, with respect, that they also gave: they built bridges, roads, hospitals, chemists, schools. They made virgin soil bear fruit, they invested their concern, their labours and their knowledge. I want to say it here: The colonials were not all thieves. The colonials were not all exploiters. There were bad men among them, but there were also among them men of goodwill, men who thought they were carrying out a civilising mission, men who thought they were doing the right thing.