From the Editor—January / February 2025

On the night of the Boston Tea Party in 1773, American insurrectionists donned disguises and destroyed a shipment of tea imported by the East India Company. The protestors boarded privately owned ships in the harbor and threw the tea overboard. Later that night, the activists discovered another tea shipment that had been unloaded at a warehouse. Not content with having destroyed most of the company’s import, they broke into the warehouse and destroyed that tea, too. The total damages amounted to more than $1.5 million in today’s dollars.

The Fed, With No Earnings, Is Taking Us on a Magic Carpet Trip

Most Americans realize that our federal government has, in recent decades, spent so recklessly that it runs ever-increasing annual federal budget deficits (currently nearly $2 trillion) and now sits on over $36 trillion in outstanding federal debt. This spending—overseen by Congress and the Executive branch—has been profligate since the 1960s Great Society, wars in Vietnam and the Middle East, the 2008-09 financial crisis, the ongoing Obamacare entitlement, and the 2020-22 Covid pandemic.

Revisiting James Burnham

Neoconservatism was born out of former Trotskyites that became anti-Communists at the end of the Second World War. After the campus protests and student movements of the late 1960s and early ‘70s, their repulsion to the waving of the Little Red Books and protests at Ivy League schools shifted these New Deal Truman Democrats into the hands of the Republican Party.

A Reader Describes the Realities of Work as a Defense Contractor

Writes “GS”, in response to recent articles on federal contractors and federal employees: 

Onsite observations of civil servants and their contractors I found what I believe to be averages:

25% hard workers and people of integrity like are found everywhere

50% that are average to below average

25% that are useless as in not working at all and visiting with their friends who are doing the same. There are also certain protected categories who know they are protected and act accordingly. Use your imagination here.