Excerpts from recent editorials in the United States and abroad:
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March 25
The Washington Post on rising interest rates:
The Federal Reserve announced an increase in its benchmark interest rate last Wednesday, from 1.5 percent to 1.75 percent, the highest level since the Great Recession began in 2008. The first such hike of new Fed chairman Jerome H. Powell's tenure, it was expected and represented continuity with the plans and policies of his predecessor Janet H. Yellen. Under Mr. Powell, it appears, the central bank expects continued strong growth and feels it can keep unwinding the super-low interest rates and other crisis measures adopted a decade ago.
Most commentary on this prudent step, likely to be the first of at least three this year, has focused on what it might portend for jobs and the financial markets. Well and good. More needs to be said, however, about the potential impact of rising interest rates on the federal government's financial future. The recession reduced tax revenue while triggering massive increases, both automatic and discretionary, in federal spending for food stamps, jobless benefits and other programs. Larger deficits were inevitable, but the Fed's low interest rates made them easier to finance.
Now, Fed policy will have the effect of raising federal debt service costs. Indeed, this was already foreseeable at the time the Republican Congress enacted, and President Trump signed, a massive new tax cut making that trillion-dollar-plus bill doubly fiscally irresponsible. A recent report from the Center for a Responsible Federal Budget, based on Congressional Budget Office interest rate assumptions, projected that total interest costs could rise from $263 billion (1.4 percent of gross domestic product) in 2017 to $1.05 trillion (3.6?percent of GDP) in 2028.
This does not necessarily mean that the debt is becoming unsustainable in and of itself (though that can't be ruled out). Even after losing the implicit support of the Fed, the federal government enjoys many advantages over ordinary debtors, including the power to print the currency it borrows. What is happening, however, is that the eventual costs of correcting today's financial excesses are rising. And the margin for error in federal finances is fast disappearing.
Interest payments are legally binding; they must be made lest the United States default on its obligations and trigger a global financial crisis. The more the government's resources are, in effect, precommitted to this non-negotiable obligation, the less it has available for emergencies such as war, hurricanes or recession and for less spectacular but no less important purposes such as research and infrastructure.
It's worth noting, too, that other things being equal, government interest payments tend to flow upward in society's pyramid of wealth, for the simple reason that people of modest means have less savings available to invest in bonds than rich people do. There's nothing progressive about that, which is one of many reasons that Americans across the ideological spectrum should be protesting Congress's recent bipartisan abandonment of fiscal discipline. In its own quiet, indirect way, that was the message the Fed just sent, too.
Online: https://www.washingtonpost.com/
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March 26
The Star Tribune (Minneapolis) on the decision to expel 60 Russian diplomats from the U.S.:
The Trump administration deserves credit for expelling 60 Russian diplomats (spies, actually, claimed the White House) and for closing the Russian consulate in Seattle, which is near a U.S. naval base.
The decisive diplomatic moves were in response to allegations that the Russian government used the nerve agent Novichok to poison a former spy and his daughter who are now living in the United Kingdom.
The March 4 poisoning, which Polish Foreign Minister Jacek Czaputowicz correctly called an "unprecedented attack on civilians with the use of a chemical weapon, unseen in Europe since World War II," was just the latest Russian affront to the West. Or, as Czaputowicz described it, an attempt to "disrupt international order and create a sense of danger."
Russian President Vladimir Putin who won last week's sham election has denied the poisoning, just as he professes innocence in the attacks against other Western individuals and institutions, including elections. Putin must be held to account for his thuggery.
The Trump administration's latest response was well-coordinated with Western allies. At least 16 European Union nations (so far) announced plans to expel Russian diplomats, or spies as some allege. Canada and Ukraine made similar moves. All this follows Britain's expulsion of 23 Russians, setting off the ongoing diplomatic row.
"The United States and many of our friends are sending a clear message that we will not stand for Russian misconduct," Nikki Haley, the U.S. ambassador to the United Nations, said.
The message wasn't nearly as clear as recently as last week, when President Donald Trump ignored the advice of his aides and congratulated Putin for his election victory while failing to mention the poisoned spy.
Monday's moves make amends for that mistake and reflect a unified Western approach that had been the hallmark of every U.S. president in the postwar era. Trump, conversely, has often challenged allies more than he has adversaries like Russia.
That's something that Trump should keep in mind as he mulls his next move on the multinational Joint Comprehensive Plan of Action the Iran deal. This isn't a U.S.-Iran bilateral pact but one that was coordinated in part by the European Union and one in which Britain, France and Germany as well as Russia and China were party to. Trump not only risks a new nuclear-arms race in the most volatile region in the world, but risks alienating allies who are expected to stick with the pact even if the U.S. walks away.
His appointment of a hawkish national security adviser, John Bolton, sends an alarming signal about the president's intent. And not just to allies, but to North Korea, which will be following the Iran deliberations closely as it engages with Trump over its nukes.
Multilateralism is the best method to contend with spiraling crises worldwide. The president would be wise to reflect upon his coordinated Russian response and replicate the close cohesion it represents.
Online: http://www.startribune.com/
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March 27
The Sacramento Bee on Sacramento's decision to bring in independent oversight of the investigation into the fatal shooting of an unarmed black man by police:
Outrage over the police shooting of Stephon Clark is not likely to go away soon, but Sacramento Police Chief Daniel Hahn has been smart to seek transparency. On Tuesday, he brought in California Attorney General Xavier Becerra to provide independent oversight of the investigation into the unarmed black man's death. It was the right call.
Clark was shot to death within seconds of being chased in into his grandparents' backyard earlier this month by two Sacramento police officers who appeared not to identify themselves. Since then, distrust has been in the air, from Clark's family announcing it would hire its own medical examiner to do an independent autopsy to attacks by Black Lives Matter and others on Sacramento County District Attorney Anne Marie Schubert.
Such concerns are neither uncommon nor unfounded with officer-involved shootings. Prosecutors work side by side with local law enforcement, and civil rights advocates for years have complained that having district attorneys investigate use of force cases carries with it an inherent conflict of interest.
Bringing in Becerra will go a long way toward rebuilding public trust, and will help ensure unbiased scrutiny of the case up front. The attorney general also has pledged to examine the police department's policies and procedures, as a whole, another critical piece of any solution.
"A greater goal has to be preventing incidents like this in the future," Becerra said at a news conference, flanked by Hahn, Mayor Darrell Steinberg and City Council members. "We have to dig deep to see what that takes."
In the past, cities could rely on the civil rights division of the U.S. Department of Justice to act as a check and balance on law enforcement. Lately, that duty has fallen to state lawmakers, as the Trump administration has made it clear it has no interest in the disproportionate killings of black men by police.
Shamefully, California's Legislature has shown it can't be relied on either. In 2015 and 2017, Sacramento Assemblyman Kevin McCarty introduced legislation that would have given the state attorney general's office more oversight in investigations of officer-involved shootings. Both bills died in committee, killed by powerful law enforcement groups, with minimal protest from then-Attorney General and now Sen. Kamala Harris.
McCarty plans to reintroduce the bill this year. Perhaps Becerra will show more interest. Given the law on police shootings, doing right by the public isn't easy. Perhaps Sacramento's approach can be a model in California.
Online: http://www.sacbee.com/
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March 26
The Augusta Chronicle calls on President Donald Trump to prove rhetoric on North Korea worked:
We were among many who pushed back against President Trump when he shockingly warned last August that future threats from North Korea would be met with "fire and fury like the world has never seen."
We said then, and we still believe, that such rhetoric is reckless and makes the world a more dangerous place.
We're itching to be proven wrong.
Fact is, he may do it.
It's hard not to conclude that it was Mr. Trump's tough talk - and the belief internationally that he just might follow through on his vow - that has led not only to rapprochement between North and South Korea at the latter's recent Olympic games, but also to an announced summit this spring between Trump and North Korean leader Kim Jong-un.
For decades, presidents have no doubt been advised not to dignify a North Korean dictator with a bilateral meeting. We would've advised the same, frankly. The conventional wisdom, again likely correct, was that it would've been a mistake to aggrandize a tyrant and, without significant preconditions, would reward bad behavior.
But everything has changed, from Pyongyang's proximity to nuclear weapons and ballistic missiles, to Kim's sudden charm offensive - and, most markedly, to a U.S. president audacious enough to take on the challenge.
Plus, we are told the summit sometime before May at an undisclosed location will take place without an easing of the U.S. sanctions stranglehold - and without further ballistic missile tests by Pyongyang.
One cautionary note, and it's a huge one: We'd have to trust that President Trump won't fall prey to North Korea's historic cat-and-mouse game - also played for years by Iraqi dictator Saddam Hussein - of agreeing to good behavior in return for concessions, then breaking agreements at every turn.
Former American ambassador to the U.N. John Bolton is highly skeptical of Kim's sincerity, as should we all be.
"The only thing North Korea is serious about is getting deliverable nuclear weapons," he said on Fox News, doubtful Pyongyang would stop a "few yards away from the finish line" in its race to become a nuclear power.
Still, with those caveats, any reason for hope must be pursued with the speed of a downhill skier.
"Kim Jong-un talked about denuclearization with the South Korean representatives, not just a freeze," Trump tweeted.
The announced summit brought instant hope and praise.
"Congratulations to the Trump administration," CNN host and Trump skeptic Chris Cuomo said. "They were able to move the ball here. Maybe North Korea's not telling the truth, maybe they won't really do this. But even the suggestion, even the potential offer, is progress."
After several rounds of sanctions, Chinese cooperation, and last year's stunning unanimous U.N. crackdown on Pyongyang, The Washington Post's Aaron Blake writes that "through it all, Trump has gotten credit for real progress on the North Korea threat, including from some critics."
"He does deserve credit," Blake quoted Trump detractor Ian Bremmer. "I think North Korea's openness in the Olympics and summitry with South Korea, as well as potentially direct talks with the U.S., are the result of Trump's approach."
Go ahead, Mr. President. Make our day.
Online: http://www.augustachronicle.com/
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March 27
The Orange County Register on a teacher's firing over anti-military comments:
Sometimes the free-speech arguments for supporting someone who has said something appalling are certainly makeable, and at the same time people of good sense are glad they are not the ones who have to make them.
It takes a special type of ACLU lawyer to go to court for the Nazis when they want to hold a parade.
Of course the unthoughtful, unkind utterances of disgraced and now fired teacher Gregory Salcido about the supposed lack of high intellect he sees in young people who want to enter our country's armed forces are of a different kind than other types of American free speech because the words were spoken in a classroom.
It's certainly not that, as a teacher, Salcido gives up his First Amendment rights outside his teaching hours. But when class is in session, you wouldn't want to see a teacher telling students how to vote, or what church to go to, or whether to go to church at all.
You want to see a teacher explaining all sides of an issue, perhaps explaining with passion what the options are, but certainly not doing so with an eye to his own peculiar prejudices, unless it's a paltry matter like how he takes his burger.
But Salcido, the El Rancho High School teacher who also is a longtime member of the Pico Rivera City Council, wasn't encouraging his students to think for themselves when he went on an anti-military rant, apparently spurred by a student wearing a Marines sweatshirt to class.
He called anyone who would join the armed force "the frickin' lowest of the low." He disparaged students' relatives who might be serving as not the brightest of the bunch, either. And, to be fair, he encouraged them to stay in school and go to college.
But it wasn't just a philosophical exercise it was a tirade. And it's not the first time Salcido has been in similar hot water. Twice before this he has been suspended from teaching, once for hitting a student and once for threatening violence to another. The school board was right to fire him. There are plenty of good teachers waiting in the wings who can keep their personal opinions to themselves.
Should Salcido be forced from the City Council as well? We'd rather see voters decide at election time than put Pico Rivera through an expensive special recall.
Online: https://www.ocregister.com/
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March 27
The Toronto Star commends the pose of Stormy Daniels and Karen McDougal amid the Trump sex scandal:
Who could have imagined, back when the world was innocent, that we'd all end up studying political science and jurisprudence under the tutelage of the former Stephanie Gregory of Baton Rouge, Louisiana?
If the American empire is truly in decline - and, these days, it's difficult to muster much of an argument otherwise - the adult film star now known as Stormy Daniels has ensured the fall is instructive, mildly titillating and wildly entertaining.
Daniels, as all this side of paradise surely know, is the porn star and shrewd entrepreneur who has, along with former Playmate model Karen McDougal (both of whom seem to have managed sexual congress with a certain Donald Trump during the same celebrity golf tournament in Lake Tahoe in 2006), caused a wholesale reconsidering of all once held dear and exemplary in American life.
It once was believed that U.S. presidents were symbols (if not always practitioners) of virtue. They were men of courage, sworn to the truth, plain-speaking. They were the very place where passing bucks stopped.
It once was equally assumed that those from the lines of work practiced by Daniels and McDougal were walking, talking occasions of sin. But (to borrow a phrase from former FBI chief James Comey), "Lordy," how the world turns.
Anyone fearing that news from the realm of pulchritudinous fantasy fulfillment might have died with Hugh Hefner can take comfort. The world has seldom been better informed.
Only in 2018, it is women speaking. And how credible, intelligent, likeable and - most important truthful they seem.
Stormy Daniels came across in her 60 Minutes interview - which President Trump will be dismayed to note drew 22 million viewers - as a canny entrepreneur and businesswoman. Not only that, she is a tweeter of exceptional skill who has effectively emasculated the president (and his supporters) in the medium Trump once said won him the presidency.
At her more sanctimonious correspondents, she merely laughs, saying that had she desired mainstream approval "I'd have become a kindergarten teacher." Legions of pundits making a living on political panels thank the gods she didn't.
For her part, McDougal could have passed, in her session with CNN's Anderson Cooper, as a squeaky-clean former high-school valedictorian aspiring to end hunger and achieve world peace. That she has gone back to the religious faith of her childhood and is active in her church ties a perfect ribbon around the whole all-American package.
In all, it turns out the two women have turned their country inside out. They've humanized America's lucrative flesh trade, while rendering the most powerful man in the world pathetic.
The image of Trump - then 60 to Stormy's 27 - dropping his trousers to be spanked by her with a magazine is a vision too hideous to un-imagine. The tales by both women of the president sexually fetishizing his own daughter is a plot line both utterly believable and too contemptible to consider.
Still, if a career in Daniels' industry teaches anything, it's how to deal with men like the president. On 60 Minutes, under questioning by Cooper, she demonstrated the touch of a neurosurgeon and the killer instinct of an assassin.
"Were you physically attracted to him?"
"No."
"Not at all?"
"No."
"Did you want to have sex with him?"
"No."
Beyond that, there are lessons to be learned.
If Cambridge Analytica has exposed the vulnerability of Facebook, and Russian hacking the weaknesses of cyber-security, the stories of Daniels and McDougal about Trump about hush money and non-disclosure agreements, the duress applied by political "fixers" on behalf of the powerful, the pursuit of cover-ups on the eve of a presidential election have revealed an American political system no holier than the porn industry.
There is no small irony in the fact that a man famously caught on taped describing the sexual abuses he felt free to perpetrate on women has received a public comeuppance from women.
In this age of #MeToo and the #womensmarch, it was women who showcased the yawning gulf between the pieties spouted by Trump and his supporters and the president's own wonky moral compass. It was two women from a sector of the economy formerly regarded as sordid that showed America dignity and grace under pressure.
While the president himself, returning to Washington this past weekend from what must have been a chilly weekend in Florida with his wife, was left to do the walk of shame across the White House lawn.
Online: https://www.thestar.com/