52 Days From the White House Obama Needs to Reassess Expectations

Fewer than five weeks ago then Senator Barack Obama followed Bruce Springsteen onto a Cleveland stage, characteristically calling for “hope over fear” and “unity over division.” Yet during this November 2nd speech, as in those of the previous week, Mr. Obama qualified his pleas for reform in Washington, arguing—even as he stood by prior proposals [...]

General Motors and the Free Market

Two months ago, Treasury Secretary Henry Paulson designated $25 billion in federal loans for struggling Detroit automakers, including $5 billion for General Motors to attempt to secure a fleet of more fuel efficient cars, a condition of last year’s Energy Independence Act.  As GM executives cut spending and production, planning to close factories in Windsor, [...]