Michael Barone analyzes the numbers to demonstrate that it was most probably Obama's negative campaigning in the swing states. What this augurs for our future is that all campaigns now will feature early negative campaigning in swing states and the other candidate will be sure to be firing back on all cylinders. So if you're living in a swing state, get ready for that quadrennial barrage.
Our increasing deficits are not a result of lower revenues, but increased spending. Revenues are actually increasing from year to year since 2009 even under those Bush tax rates that Obama wants to raise.
When Beltway politicians claim they want a "balanced" approach to reducing the deficit, what they really mean is raising taxes to finance this new higher spending level. And the still-higher level that is coming with ObamaCare.
The reality is that the fastest way to raise revenue is with faster economic growth. To the extent that raising tax rates will reduce the rate of growth, it will slow the flow of tax revenue and increase the deficit.
Even if Mr. Obama were to bludgeon Republicans into giving him all of the tax-rate increases he wants, the Joint Tax Committee estimates this would yield only $82 billion a year in extra revenue. But if growth is slower as a result of the higher tax rates, then the revenue will be lower too. So after Mr. Obama has humiliated House Republicans and punished the affluent for the sheer joy of it, he would still have a deficit of $1 trillion.
Most of our readers know all this, but we thought you'd like some new evidence to rebut the kids who voted for your taxes to go up when they return from college for Thanksgiving. Maybe they'll figure it out when they have a job, if they can find one.
Jack Cashill refutes the myth of Romney's missing three million Republicans. Apparently, most of those lost votes were in California and New York.
California has voted itself into deeper bankruptcy and obsolescence. Let their fate be a salutary example for the rest of the country of what unchecked Democratic and union rule accomplish. There's still a lot of ruin left in the state to come to pass. It will be enlightening to compare the future of California with Michigan which has elected a Republican and just voted down two constitutional amendments supported by the unions.
How government is leading to drug shortages.
George Will recommends that the Republican Party tilt more towards the libertarian side on social issues. I only wish they could do so, but I don't see how the party can beyond the potency of social conservatives in the primaries unless social conservative candidates can knock themselves out.
Oh, gosh. We're already seeing moves and talk about 2016 as Marco Rubio heads to Iowa for a fundraiser.
The perpetually sunny Hugh Hewitt reminds us of what Mitt Romney did right.