The Thursday wrap
Looks as if the EPA won't have to rush to finalize new anti-coal regulations by the end of the month now that President Obama has won re-election. The new emissions standards effectively would ban the construction of any new coal-fired power plants. Perhaps the administration will award another government contract to its cronies for solar- and wind-powered signs that read “Get your food stamps here.” ... We keep hearing the words “gridlock” and “divided” to describe an election that left a Democrat in the White House, Democrats in control of the Senate and Republicans in control of the House. The far more accurate characterization would be that the election preserved the critical concept of “checks and balances” that gives America at least a fighting chance. ... Or as The Washington Times' James S. Robbins put it: “A president who believes his mandate is to find ways around Congress is tragically mistaken. A White House that closes itself off from legitimate criticism has conceded its own impotence. A head of state who thinks it is his prerogative to impose his will by executive order will only divide the country further. America has chosen a leader; it remains to be seen if he can and truly will lead.” ... Much was made of the fact that Barack Obama is the first president to be re-elected with an unemployment rate above 7.2 percent since Franklin D. Roosevelt in 1936. Not mentioned, however, is that, soon after, the interventionist policies of the New Deal began to unravel, exposed for the failure they were. Stay tuned.