EDITORIAL ROUNDUP
Posted on Sunday, May 11, 2008
URL: http://www.nwanews.com/bcdr/Editorial/61699/
Cutting rates, but carefully
As expected, the Federal Reserve cut interest rates again April 30, by another quarter of a percentage point. As The Wall Street Journal had predicted, Fed officials appear to want some “ insurance against a deeper recession. ”
With that, however, the Fed also suggested that this might be the last such cut for the time being and that it will monitor inflation carefully. That is welcome news, for while recession is a concern, perhaps the greater need now is for increased protection against inflation.
Artificially low interest rates both encourage excess borrowing and discourage savings — neither of which helps the economy in the long run. Much of the subprime mess dragging down the housing industry stemmed from too-easy money.
Higher interest rates could also dampen the rising price of oil by bolstering the sagging dollar. That alone might counter any negative effect on borrowing.
— The Durango (Colo. ) Herald Keeping the law from lagging There are times when the law has to catch up with science, and Congress took a step in that direction. By huge bipartisan majorities, lawmakers passed a bill to bar discrimination by employers and health insurers on the basis of a person’s genes. The idea of shielding people from adverse consequences when third parties have access to their genetic information has been kicking around the halls of Congress for a decade or more. But until recently, the concerns seemed more theoretical than real. But doctors say that thousands of patients have avoided these valuable windows into the future for fear that the information could be used against them. Our genes in many ways contain hints about our vitality and mortality. Those with an unlucky draw shouldn’t also have to worry about losing a job or affordable healthinsurance coverage just when they need it most.
— St. Petersburg (Fla. ) Times National parks no place for loaded guns The right to bear arms, as provided in our Constitution, gets as much emotional and spirited debate as does the issue of church and state. Interior Secretary Dirk Kempthorne says he’ll soon review the rule that bans loaded weapons in national parks. The fact that 51 U. S. senators support lifting the ban might have something to do with his thinking. But the fact that seven former directors of the National Park Service, plus the Association of National Park Rangers and other advocacy groups, oppose lifting the ban should say something, too. It’s one place where people can hike, fish, drive and climb in relative peace. Bringing loaded weapons into a largely undeveloped park is asking for trouble where little trouble now exists. The right to bear arms was never intended to be an unrestricted, absolute right beyond the grasp of reasonable laws, any more than freedom of speech was meant to allow you to say anything you want at any time. There must be places in our society where loaded guns are not allowed. — The Mountain Press,
Sevierville, Tenn.