In a speech at the Economic Club of Chicago yesterday, Rep. Paul Ryan (R-WI) laid out his “Path to Prosperity” 2012 budget proposal. Ryan also discussed how the U.S. government reached its big-spending tipping point: By the end of the decade, we will be spending 20 percent of our tax revenue simply paying interest on […]
The U.S. government is expected to hit the $14.294 trillion debt ceiling Monday, setting in motion an uncertain, 11-week political scramble to avoid a default. The Treasury Department plans to announce Monday it will stop issuing and reinvesting government securities in certain government pension plans, part of a series of steps designed to delay a […]
Remember the movie “Top Gun”? The film is 25 years old, but the military technology that played a starring role in the plot is even older. In today’s Washington Examiner, James Carafano reflects on the state of that arsenal today and why “getting America’s Maverick back” is so important: At the end of the 1986 box-office […]
As Israel celebrates 63 years of being an independent state, it turns out that it is an export superpower. According to figures published on Tuesday by the Israel Export Institute and presented by the Globes financial news paper, since its establishment in 1948 Israel has multiplied the volume of goods it exports to the world […]
(Salt Lake City) Gold and Silver are now legal tender in Utah due to the rapidly fading dollar. Utah house voted today 47-26 to approve gold and silver as legal tender. The Utah bill would recognize Federal Gold and Silver coins as legal tender. The Utah bill would also set up a committee to study changes […]
(OC Register)– High pay and benefits for lifeguards in Newport Beach is the latest example of frustrating levels of compensation for public employees. More than half the city’s full-time lifeguards are paid a salary of over $100,000 and all but one of them collect more than $100,000 in total compensation including benefits. We are talking […]
Two recessions, a couple of market crashes, and stubbornly high unemployment are all wreaking havoc on America’s middle class. In the accompanying interview, The Daily Ticker’s Aaron Task discusses the state of the middle class with Sherle Schwenninger, director of economic growth and American strategy programs at the New America Foundation. Schwenninger’s recent report “The […]
It’s not Eminem or Dre, not East Coast or West. It’s economists Hayek and Keynes, and Congress can’t decide who gets it best. They’re battling it out on the mean streets of DC, to see who can fix the economy…. Sometimes, the best way to get a point across is to bust a rhyme, and […]
Posted by Colin Barr– Think the debate about U.S. creditworthiness can’t get any sillier? Guess again. A week after Standard & Poor’s finally told us what we already knew, that the U.S. fiscal fiasco is in danger of spinning out of control, along comes Weiss Ratings of Jupiter, Fla., to reaffirm we can’t max out […]
The U.S. Export-Import Bank, an independent agency of the federal government, is now planning a $2.84-billion loan of borrowed money, for a massive project to expand and upgrade an oil refinery in Cartagena, Colombia. The money would go to Reficar, a wholly owned subsidiary of Ecopetrol, the Colombian national oil company. This isn’t even the […]
