On Saturday, process won out over substance in the reaction to the agreement by leaders of the eurozone on measures to combat the European debt crisis. Since there was so much advance speculation that no agreement could be reached, the very fact that the leaders reached an agreement touched off a wave of financial optimism. […]
Billionaire real-estate magnate Sam Zell warns that Americans should brace for a “disastrous” 25 percent decline in the standard of living if the U.S. dollar’s reign as the global reserve currency ever ends. He says that there are signs in the market that it could eventually happen. As it is now, a Korean manufacturer who […]
Media attention has concentrated recently on the Middle East “democracy” protests and what appears to be degenerating into a civil war in Libya. This focus tended to shift attention from crises that were raging prior to the Middle East turmoil. One such example is European debt crisis. As we approach the European Council Summit towards […]
“Will the unions help keep poor teachers from returning to the classroom?” asked Saturday’s Washington Post, reminding us that union intransigience stretches from Madison,WI to Washington, D.C. An independent arbitrator recently ruled that D.C. Public Schools will be required to hire back 75 teachers fired during Michelle Rhee’s tenure. On top of this, D.C. will […]
A high-ranking aide to Minority Leader Nancy Pelosi (D-Calif.) told Democratic chiefs of staff that a government shutdown is more likely than not, according to attendees. Speaking at a regular meeting of the top aides to House Democrats, Pelosi’s floor director, Jerry Hartz, offered up, unprompted, his assessment that the odds favor inaction before the […]
This is only President Barack Obama’s second State of the Union, but his failed economic agenda has already forced him into early reruns. After more than $800 billion in Keynesian economic stimulus spending, our nation is still mired in a post World War II record 20th consecutive month of near double digit unemployment. Our national […]
President Obama’s comments on Wednesday in a joint press conference with Chinese President Hu Jintao, misinformed the public about potential changes in foreign exchange rates and their effects on U.S. citizens. Obama on Wednesday said that he would like to see the Chinese yuan appreciate faster in value. While Hu indicated that China is committed […]
The following are 22 facts about California that make you wonder why anyone would still want to live in that hellhole of a state…. #1 The California state government is facing a potential state budget deficit of 19 billion dollars this year, and California debt is rapidly approaching junk status. One way or another the […]
On March 16, 2006, when our national debt stood at $8.27 trillion, a young Senator from Illinois announced his intention to vote against raising our nation’s debt ceiling to $9 trillion, explaining: The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. Leadership means that “the […]
We have a $13 TRILLION dollar debt that is generating an additional $4 billion dollars in interest every single day of the year, so $4b X 365 days a year equals $1.460 TRILLION dollars more in debt each year, and the last time I checked that was more than all annual government income sources combined. […]
