Forty-five kindergarten children sit attentively in a cold classroom in a poor school on the outskirts of Santiago, Chile. Bundled in blue and white uniforms, they patiently wait on their teacher’s next instruction, a child occasionally moving across the small room to access materials in his personal cubby-hole. In a …
Releasing 30 million barrels of petroleum from strategic reserves is not an energy policy, and it is not an especially useful response to either short-run or long-run pressures on gasoline prices. Because the release is scheduled to stop in 30 days, market adjustments will partially offset the release’s impact in …
In 1987, President Ronald Reagan explained the relationship between federal spending and the U.S. trade deficit: “Here in the United States, we must restrain government spending. Our trade deficit in goods and services reflects that, over the past several years, we have spent more than we have produced—and we have …
In a press conference on Wednesday, President Barack Obama promised to boldly go where no President has gone before, taking “unprecedented” steps to cut back the tangle of regulations that are strangling businesses and leading to America’s anemic job growth. It’s certainly a welcome idea, but the only trouble is that …
Robert Gates said goodbye to the Pentagon yesterday after serving two presidents and spending nearly five years as defense secretary. On his final day, President Obama surprised Gates with a Medal of Freedom. Leon Panetta takes over today after serving as CIA director since February 2009. He’ll be replaced at …
