China’s state media Tuesday blasted the United States over its “ticking debt bomb” and urged American lawmakers to be more responsible after they failed to agree on deficit-cutting measures. China is the world’s largest foreign holder of US Treasuries with a portfolio of around $1.15 trillion, prompting Beijing’s keen interest in the state of the US […]
ATHENS — The Greek government was plunged into chaos on Tuesday and faced an imminent collapse, as lawmakers rebelled against Prime Minister George Papandreou’s surprise call for a popular referendum on a new debt deal with Greece’s foreign lenders. Such a collapse would not only render the referendum plan moot, it would likely scuttle — […]
Speech by Congressman McClintock given to the California Independent Automobile Dealers Association We are in the third year of policies predicated on the assumption that if Government just injects enough money into the economy, it can jump start consumer spending and therefore, economic growth. For three years, this administration has squandered more than a trillion […]
Act II of the European Summit is going to take place on Wednesday (Act I concluded on Sunday), when the world will see whether the hints about “progress” in stanching the European debt crisis have a basis in reality. It is now apparent that what Europe had tried to avoid for the past half year, a […]
Germany is pushing behind the scenes for a “hard” default in Greece with losses of up to 60pc for banks and pension funds, risking a chain-reaction across southern Europe unless credible defences are established first. Officials in Berlin told The Telegraph it is “more likely than not” that investors will suffer fresh losses on holdings […]
Free trade agreements (FTAs) have economically benefited nations the world over since their inception. Poverty rates in countries with low trade barriers are significantly lower, and data in The Heritage Foundation’s Index of Economic Freedom demonstrate that free trade also leads to higher incomes, more jobs, and greater equality. That’s why it’s vitally important to […]
By Tom McClintock Federal spending has ballooned 28 percent during the Obama Presidency while the government has amassed more debt than it acquired from the first day of George Washington’s administration to the last day of George H. W. Bush’s. Our nation is racing toward a fiscal cliff. Yet, as Sen. Jim DeMint noted, instead […]
Secretary of Defense Leon Panetta asserted during a press conference on September 20 that the recently enacted debt ceiling law requires $450 billion in savings from the Department of Defense (DOD) budget over the next 10 years. While this is a widely accepted assertion, it is not accurate. The debt ceiling law imposes caps on […]
Last week’s presidential debate at the Reagan Library elevated Social Security as a national issue that could reshape the 2012 campaign. Candidates spent the week trading blows about the role of the 76-year-old social insurance program. Leaving aside the political rhetoric, one thing is certain: Social Security needs to be reformed or America will face […]
Conservatives are crazy. Sometimes they’re stupid, racist or even evil. On creative occasions they’re all four – at least that’s how they’re portrayed by the American media. This election season, journalists have partnered fully with the left to depict conservatives in the most vile ways they can muster. While it’s nothing new, the sheer volume […]
