However little president Obama knows or cares about economics, he knows a lot about politics - and especially political rhetoric. 'High-speed rail' is simply another set of loft words to justify continued expansion of government spending. So are words like 'investment in education' or 'investment' in any number of other things, which serves the same political purpose.

A passionate commitment to social justice is no substitute for knowing what the hell you're talking about.

Perhaps people who are gushing over the Obama Cult today might do well to stop and think about what it would mean for their granddaughters to live under Sharia law.

No society ever thrived because it had a large and growing class of parasites living off those who produce.

There is no bigger waste of time than doing 90% of what is necessary.

The dominant orthodoxy in development economics was that Third World countries were trapped in a vicious cycle of poverty that could be broken only by massive foreign aid from the more prosperous industrial nations of the world. This was in keeping with a more general vision on the Left that people were essentially divided into three categories - the heartless, the helpless, and wonderful people like themselves, who would rescue the helpless by playing Lady Bountiful with the taxpayers' money.

The word 'racism' is like ketchup. It can be put on practically anything - and demanding evidence makes you a 'racist.'