The new U.K. coalition government’s strong ongoing support for foreign aid may be one area where it is out of touch with the British electorate. According to a recent poll, the British public identifies foreign aid as one of the top three priorities for spending cuts. Nearly half the respondents indicated that they would like to slash wasteful overseas aid. The late Peter Bauer, one of the greatest development economists of all time and an adviser to Prime Minister Margaret Thatcher, argued relentlessly against ineffective development aid, noting famously that …
Now that the Senate has passed its “Foreclosure Enhancement Act,” attention turns to the House, which will hold hearings on its own response to the housing “crisis.” As the Christian Science Monitor reports, “at the heart of the emerging consensus is a bigger role for the Federal Housing Administration in helping borrowers refinance loans they cannot afford to pay. … [A]ll competing plans require an FHA that is up to the task of dealing with a crisis that industry experts say is uncharted territory.” But is the FHA up to …
The Heritage Foundation has been raising doubts about the Senate’s efforts to “do something” on the housing crisis for weeks now. With a vote scheduled for 2:15 PM today, it seems the rest of nation is catching on to the fact that the principles in this bill will only increase foreclosure’s and depress home prices. But don’t take our word for it: From the Associated Press: “It’s touted as easing the foreclosure crisis and boosting demand for housing, but critics warn that a bill before the Senate might actually encourage …
