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    Detroit Bankruptcy Is No Time for Federal Bailouts

    The city of Detroit filed for Chapter 9 bankruptcy protection yesterday with some $18 billion in debt, making it the largest municipal bankruptcy in the United States. There will inevitably be calls for the federal government to bail out Detroit. Washington should set a firm precedent now that it will … More

    House Cloakroom: August 9 – 13

    Analysis: The House adjourned a week ago, but due to a last minute passage of additional bailout funding to states for being unable to manage their own finances, they will come back for another round of spending. On Tuesday, they are set to vote on the Senate amendment to H.R. 1586 that … More

    Will Washington Follow in Sacramento’s Footsteps?

    The federal government’s bailout parade wasn’t enough to save California this week. In a move that drew praise from some conservative quarters, President Obama refused to send federal aid to the Golden State. California had asked the Treasury Department to help with its $24 billion deficit. But rather than open … More

    Rich States, Poor States

    Out-of-control spending has been the theme of 2009. In his first fifty days in office, President Obama and the 111th Congress spent one billion dollars an hour. Using money to bail out the states, 40 of which are running state deficits, simply encourages more spending. In response, Governor Mark Sanford … More