Wednesday Links: European Defense, Carbon Trading, Student Lending, Church and State, and George Will
Secretary of Defense Gates criticizes European governments for failing to provide adequately for their own defense. But it’s little wonder that they don’t manage these things themselves when the United States has for so long offered a security guarantee.
There’s a major flaw in carbon-trading schemes, Jeremy Warner argues: no wealth is actually being created by these trades. “Unlike traditional commodities markets, which will eventually involve delivery to someone in physical form, the carbon market is based on lack of delivery of an invisible substance to no-one.”
The Obama administration has devised a new way to save money: stop subsidizing banks that offer student loans. Fair enough. The New York Times reports, however, that the government intends to continue funneling taxpayer money to schools and students and spend the “savings” from the subsidies elsewhere: “the savings would be used to aid early-childhood education, community colleges and needy college students.” Another way to save taxpayers money would be to, you know, not spend it.
An Ohio clergyman suggests that lawmakers shouldn’t live in housing affiliated with religious organizations. Why? The Washington Post says “he called it a matter of church-and-state separation, with this a potential example of undue church influence on government through members of Congress.” Of course, the First Amendment was crafted to keep government out of religion — “Congress shall make no law respecting an establishment of religion” – not to keep religion out of government.
And last but not least, George Will offers his entertaining take on the state of the world at CPAC: