With an election approaching and at least some Americans upset about irresponsible spending, the president has finally expressed a political interest in cutting something. He says the Pentagon will spend "only" $525 billion next year. That's slightly less than the current $531 billion.
Has Barack Obama learned nothing in three years? Last night, during his State of the Union address, he promised "a blueprint for an economy." But economies are crushed by blueprints. An economy is really nothing more than people participating in an unfathomably complex spontaneous network of exchanges aimed at improving their material circumstances. It can't even be diagrammed, much less planned. And any attempt at it will come to grief.
