Well, maybe not death panels, exactly, but unless we start allocating health-care resources more prudently – rationing, by its proper name – the exploding cost of Medicare will swamp the federal budget.

To be sure, India has achieved enviable success in business services, like the glistening call centers in Bangalore and elsewhere. But in the global jousting for manufacturing jobs, India does not get its share.

Eye-popping tales of growing income inequality are hardly new. By now, nearly every American must be painfully aware of the widening pay gap between top executives and shop floor laborers; between 'Master of the Universe' financiers and pretty much everyone else.

Well, maybe not death panels, exactly, but unless we start allocating health-care resources more prudently – rationing, by its proper name – the exploding cost of Medicare will swamp the federal budget.

Conservatives brayed that government should stay out of the private sector; liberals bleated for nationalizing the banks.

The largest number of jobs likely to be created by the JOBS Act will be for lawyers needed to clean up the mess that it will create.

During my 30 years on Wall Street, taxes on “unearned income” have bounced up and down with regularity, and I’ve never detected any change in the appetite for hard work and accumulating wealth on the part of myself or any of my fellow capitalists.