At the close of business, the federal government’s debt limit will increase by another $1.2 trillion, the final installment in a series of hikes that started last summer. This last increase, from $15.194 trillion to $16.394 trillion, was essentially granted in the Budget Control Act (BCA) of 2011, passed August …
Millions of American homeowners face foreclosure, but at least one sort of housing crisis has been remedied: No longer will research rats suffer the indignities of crowded cages. That is to say that the federal government has ordered labs to provide precisely measured living quarters for all rodents used in …
Did World War II spending boost economic growth? Although some statistics appear to affirm this, wiser historical analysis demonstrates that artificial increases in output during the war masked a debilitated private economy. Meaningful growth increased after the war, when free-market mechanisms returned and marginal tax rates were reduced. Gross national …
“Over a thousand Americans are working today because we stopped a surge in Chinese tires,” asserted President Obama in his State of the Union Address. President Obama referred to steep tariffs that his Administration imposed on tires imported from China. Not everyone sees it that way. According to the Tire …
A high school diploma has long served as the most basic requirement for an entry-level job (notwithstanding declining standards in government schools). But now comes the Equal Employment Opportunity Commission (EEOC) declaring that a sheepskin prerequisite constitutes discrimination. In the opinion of the vaunted EEOC Legal Counsel staff, requiring a …
President Obama will release his annual budget proposal late yet again. Choosing the date is not merely a convention. By law, the President must release the budget by the first Monday in February, which falls on February 6 this year. Yet yesterday the Administration announced it will release its fiscal …
IMF Managing Director Christine Lagarde has been talking up the need for greatly expanded resources to bail out ailing European economies. European nations have offered to channel about $200 billion of their own funds to themselves through the IMF (a kind of gentleman’s money-laundering to avoid restrictions in their own …
Leading up to his third State of the Union (SOTU) address tonight, President Obama appears once again less interested in facilitating real job growth than in creating the mere appearance of job creation. In a SOTU preview video released over the weekend, Obama declared that American energy fueled by homegrown …
