Part of the Way With the WSJ
"America can be a superpower or a welfare state, but not both." So says the Wall Street Journal in its editorial on "The Gates Farewell Warning." Although you probably won't have to read the article to know which side the paper came down on, we shouldn't miss the significance of the newspaper of record of the world of capital acknowledging that a choice has to be made. After all, many people on the other side of the fence have been arguing that point for some time and largely been ignored.