Editorial -- A Deathbed Conversion?

The Inflation Reduction Act, which is a watered down version of the Build Back Better Act that the Democrats touted when they first took power, miraculously passed the Senate recently. It is expected to pass the House and be signed into law. It will create incentives to fight climate change through clean energy tax credits, a green bank, and incentives to plug methane leaks. 

There will also be healthcare reforms in the measure. Protecting human lives is always a good thing. And there will be measures in it to reduce the deficit, important since inflation, although it has eased recently, is still there and gas prices are still too high.

No, the Democrats did not just save civilization. But they finally, belatedly, woke up and realized that there was more to life than just sticking it to the Russians.

We’re all called to stewardship of God’s resources. You can’t love the creator and hate the creation. If you hate the creation, then you hate the creator who made it. Jesus’ parables made consistently clear time and time again that we would be judged based on how well we were stewards of his creation. So anything that helps prevent the planet from overheating is a good thing. 

This measure will undoubtedly help the Democrats at the polls this year. But will it help enough? 

The problem with the bill is that it doesn’t go far enough. Last year, the International Energy Agency said fossil fuel development must stop in order to meet emissions targets. The bill will allow more oil and gas lease sales on public lands and waters. This means more spills and accidents waiting to happen on fragile ecosystems that cannot afford it.

The positive side of this bill is that maybe the Biden Administration, for once, is on to something – you’re much more likely to get meaningful legislation passed by carrots and not sticks. Maybe we could apply this to other issues. On abortion, for instance, maybe we could focus on passing legislation that helps make every child a wanted child and that rewards motherhood; after all, Missouri has a near total abortion ban, but women can still go to other states to get one.

And maybe the way to conduct diplomacy is through carrots and not sticks. Ever since Russia began its “Special Military Operation” on February 24th, the US policy has been to try to stick it to the Russians. That hasn’t worked. All that has happened is that Putin has dug his heels in and is more entrenched in power than ever. If sanctions were an effective tool, we would have resolved the North Korea conflict decades ago.

You have to be careful in how you go about transitioning to a green economy. The danger is that many jobs will be lost and many families destroyed, many more women will get abortions, and many communities decimated if it is not done right. However, it turns out that, according to a working paper from the National Bureau of Economic Research published this month that green jobs are frequently created in counties that have high shares of employment in fossil fuel extraction. Green jobs are also created in occupations that are about 21% higher paying than average. 

On the healthcare side, there are some meaningful measures passed as well. One of the most obvious measures, one of the most common sense, and consequently, one most strenuously resisted in Washington is the notion that Medicare should be able to negotiate prescription drug prices. That measure is finally on the books. Other measures on the Inflation Reduction Act include limiting Medicare drug price growth to inflation, and limiting commercial drug price growth to inflation.

About $125 billion in taxpayer money would be raised though improving tax compliance. The IRS would be funded by $80 billion over the next ten years, which, according to the CBO, would result in an additional $204 billion over the next 10 years. The CBO estimates every dollar spent to reduce the tax gap would generate $2.50 of revenue.

On July 29th, the Penn Wharton Budget Model came out with an estimate saying that the Inflation Reduction Act would reduce non-interest cumulative deficits by $248 billion over the budget window. 

More work needs to be done. Much of the social spending in the original BBB Act that Joe Manchin tanked – child tax credits, universal pre-K, and more – would have helped with the goal of making every child a wanted child. That is well worth the price of investment and one likely to give a big return.

Editorial -- Nancy Pelosi Wants War With China

So apparently, House Speaker Nancy Pelosi now thinks she is the President. As part of a tour of Asia – something that normally presidents do – CNN reports as of Monday afternoon that she is expected to visit Taiwan, along with four other congresspeople. The Wall Street Journal reported this as well.

If Russia is the clear and present danger to Europe that Putin’s biggest critics charge, then what is Speaker Pelosi doing throwing gas on an already tense situation between the US and China, two nuclear powers, over Taiwan, a place that the US acknowledges is part of China? All this does is risk dragging the US into a two front war between the US, Russia, and China, one that they cannot win. And it could turn into a four front war if Iran and North Korea decide to take advantage of the situation. Or maybe Speaker Pelosi, who has access to classified intelligence that we don’t, knows something we don’t. Maybe the threat from Russia has been blown completely out of proportion.

Those who point to parallels between now and the late 1930’s, when Nazi Germany was threatening to unleash war, miss a key difference – the US, Russia, and China are all nuclear powers. Nobody would win such a war. We’d all burn. That is why the US and Russia, back when saner heads were in power, got together in 1987 and agreed that such a war must never be fought. Putin is a bully, but he is not suicidal.

And this illustrates the wrongheadedness of Joe Biden’s policy of sticking it to the Russians and simultaneously escalating tensions with China, Iran, and North Korea. Even if he wouldn’t personally start a war between the US and any of these countries, the next President might. For instance, Hillary Clinton (D) and John Bolton (R) never met a war they didn’t like. And there are always wanna-be presidents like Speaker Pelosi who are more than happy to escalate already high tensions between the US and China. In 1914, it took one hotheaded person to plunge Europe into war.

Editorial -- Joe Biden’s Four Front War?

So apparently, not content with sticking it to the Russians anymore, Joe Biden is escalating tensions against even more enemies. First, he is sending arms to Taiwan, which China views as sovereign territory, and daring them to invade. There is always a threat that North Korea’s missile tests will flare into open warfare. The battle in Ukraine rages on, with both sides thinking they are winning.

Now, egged on by Israel and Saudi Arabia, Joe Biden says that the US is prepared to “use all elements of its national power” to prevent Iran from building a nuclear weapon. Yes, the same Saudi regime that chops peoples’ heads off like ISIS did, and which invades neighbors it doesn’t like, like Putin does. Yes, the same regime which produced 15 of the 19 hijackers who were involved in the 9/11 attacks.

Even if none of Iran, Russia, China, or North Korea were nuclear armed powers, this would be a drastic overextension of US power. Israel is a nuclear power. If Iran is such a clear and present danger, then let Israel launch an attack on Iran and dismantle its nuclear program. The fact is that we simply can’t afford to get involved in a two front war, let alone the four front war that Joe Biden is sleepwalking us into.

And this is a simple matter of right and wrong. Mr. Biden had an opportunity to rectify his predecessor’s sabotage of the Iran Deal, one of the best achievements of the Obama Administration. But the fact that he is escalating tensions with Iran means that Mr. Biden is a lot more like Donald Trump than he cares to admit. The only things missing are the mean tweets and the mobs willing to storm the Capitol if they don’t get their way. Keeping one’s word is essential in politics or any other profession. No wonder relations between the US and countries like Russia, China, Iran, and North Korea, none of which we can afford a war with, are deteriorating. And no wonder nobody likes Mr. Biden.

Chris Hedges, a former Middle East bureau chief for the New York Times and a Pulitzer Prize winner, notes that if war were to break out between the US and Iran, 2 million Shiites throughout the Middle East would join the war against the US. Iran would use its missiles to shut down the Straight of Hormuz, which is the corridor for 20% of the world’s oil, driving up oil prices to $500 to $750 a barrel, meaning gas prices could go up to as high as $20 a gallon.

And Mr. Hedges notes that the US would have a hard time winning a war against Iran alone, let alone three other powers like Russia, China, and North Korea. In 2002, the US spent $250 million to simulate a war with Iran, in which kamikaze attacks destroyed 16 US warships in under 20 minutes. They tried to change the rules so that Iran couldn’t shoot down our aircraft, while the US had access to some weapons that don’t exist, such as airborne laser weapons. The last military commander who played around with divisions and weapons that didn’t exist was named Adolf Hitler in the last days of his Third Reich. Despite their “wonder weapons,” the US still couldn’t win thanks to the guerilla tactics of the Iranians.

And none of these exercises took into account what would happen in a two front war, let alone a four front war. And they also didn’t take into account the fact that Iran has one of the biggest drone fleets in the world.