President Obama has just presented his new budget, which again ignores reality. It contains another trillion-dollar deficit, which assumes a large increase in revenue resulting from a tax-rate increase on ‘the wealthy' and corporations. He knows, and so does everyone else, that Congress is not going to pass the tax increase.

Corporate taxes are paid by consumers in higher prices and by workers in lower wages - so much for the promise not to increase taxes on those making less than $250,000. Every good tax economist knows this, but the president chooses to ignore reality and demagogue the issue.

Even more disturbing is the lack of discussion about a contingency plan if his projected economic scenario does not work out - and the probabilities are that it will not work out. The reality is that the United States and most other governments, particularly the Europeans, have reached or are close to reaching the limits of their ability to tax and borrow.

This situation means there is going to have to be either massive cutbacks in government spending or very high inflation.

At a press conference in Kabul, Afghanistan on February 12, French Foreign Minister Dominique de Villepin announced that France will be “increasing its military participation in the international security force” in the war-stricken country. A NATO army unit called Eurocorps, composed by France, Germany, Spain, Belgium, and Luxembourg, will be deployed in Afghanistan by August. “We want to do more,” Villepin declared. “We want Eurocorps to take the lead.”

This was the wire story carried by AP. What was not disclosed is the particular nature of France’s participation. While other countries will be providing soldiers for Eurocorps in Afghanistan, France will be providing intellectuals.

Week after week for two or three months now, it's been a no-good lousy week for Zero.  We couldn't expect this to last, so this week we got kicked in the teeth. The bitter irony is that it was done by someone we were sure was one of our own:  John "Judas" Roberts.

I don't buy for a New York second the too-cute-by-half tortured rationalizations of Roberts' defenders like Charles Krauthammer or George Will - just as tortured as Roberts' desperate reasoning.  The proof that Roberts is a Conservative Judas goes beyond his ruling on ZeroCare.

Why are Roberts' defenders failing to mention his other over-the-top-disgusting ruling yesterday (6/28) invalidating the Stolen Valor Act?  Every pathetic scumbag in America now has the Constitutional right to claim he won the Medal of Honor or wear a Purple Heart pin on his lapel.  It's hard to imagine a more revolting insult to American soldiers and veterans.

Why are Roberts' defenders failing to connect the dots between these two rulings and a third this week, when on Monday (6/25) he provided the deciding vote to substantially invalidate Arizona's immigration law?

These are all of a pattern.  Judas John Roberts has joined Breyer, Ginsburg, Sotomayor, and Kagan.  He's now on the Dark Side of the Force. There are only three constitutionalists on the court now, Scalia, Thomas, and Alito.  Roberts is not brilliant, nor a genius.  He's a coward afraid to stand up to the bullying of Zero.

Government corruption can take many forms. Last week, most of those forms could be seen in the actions of the Obama administration:

Everything from government officials taking simple bribes, to covering up wrongdoing, to using taxpayer money to pay off political supporters, to using government prosecutors to punish enemies, to failing to fulfill its fiduciary duty to citizens by not performing cost-benefit analyses before taking actions.

Promulgating policies that knowingly hurt millions of people is far more serious than a government official requesting a cash bribe - as despicable as that may be. Pushing for tax increases without first getting rid of counterproductive or useless programs and cleaning up mismanagement is an example of policy corruption.

The results of the extensive moral, intellectual and policy corruption in the United States in recent years can be seen readily in the accompanying chart, which includes data from both right- and left-leaning organizations.

The most interesting thing, politically, about Mel Gibsons The Passion of the Christ, is all the Palestinians.

Asia's economic recovery is losing momentum and Europe's slump is proving deeper than expected, raising concerns that soaring stock markets globally have jumped ahead of economic reality.

Japan's closely-watched index for machinery orders fell 13% in January, nearing levels last seen after the Lehman Brothers crisis. "It is a shockingly poor number and illustrates the divergence between the improvement in sentiment in financial markets and what is actually happening on the ground," said Julian Jessop from Capital Economics.

China's industrial output rose 0.6% in January and 0.8% in February, the slowest pace since early last year. Retail sales growth dropped to 12.3%, the weakest since early 2004. "The goal of consumer-led growth remains a pipe dream for now," said the group's China economist, Qinwei Wang. "The economic rebound may already be stalling."

The US economy is holding up, as cheap shale gas drives a manufacturing revival, but Charles Dumas from Lombard Street Research said America still has to navigate the most drastic fiscal squeeze since the Second World War. "We think tightening will be 2.5% of GDP this year and that will hit profits," he said. "We expect a 10-20% correction in the S&P 500."