In 2006 Warren Buffett invested $4.5 billion in Iscar, an Israel-based machine-tools maker. Notable is that Iscar was within easy distance of the enemy rockets that exist as a constant threat to the small country, its businesses, and most important of all, its people. For that reason, the investment puzzled some of Buffett’s admiring watchers.

Some think that a big win on tax reform is a pie-in-the-sky dream. But the truth is that it will be easier to overhaul the tax code than it will be to tinker around the edges.

Republican moderates in the Senate killed ObamaCare repeal. Many conservatives, who are anxious to get big policy wins on the scoreboard this year, are beginning to wonder if the Republican majority will ever get its act together.