Obama’s Foreclosure Plan Another Abomination
by The ink barely dry on President Obama’s health care bill – and so-called victory over the American people – the president has a new set …
Category: Finance
Put People to Work by Lowering the Minimum Wage
It should be obvious to everyone that the minimum wage employers may legally pay workers is directly linked to the number of job openings companies …
The Real State of the Union: Beyond Bankrupt
All the twitter about President Obama’s sneak attack on the Supreme Court and Justice Alito’s silent rejection of it masked the real news of the …
U.S. Tax Policy Must Regress
In a short, direct article Scott Hodge debunks one of the radical left’s essential talking points, namely that the American rich don’t pay enough taxes to support their poorer countrymen. On the contrary, the U.S. system is more liberal than any other country in the Organization for Economic Co-operation and Development (OECD).
Consumer Financial Protection Agency Not Needed
Todd Zywicki gets it right when it comes to home mortgage and credit card debt: Instead of a new consumer financial products safety commission, Washington …
The AIG Meltdown and Who’s to Blame
Michael Lewis’ article at Vanity Fair is a fascinating summary of the problems that led to the failure of AIG – a must-read. Still, as compelling as Lewis’ case is, I don’t buy it in its entirety. Is the entire financial disaster of 2009 really the fault of one man? Not a chance.
Is Debt Default Immoral?
Megan McArdle has wrestled with this question and came up with a wonderfully clear answer:
If people really acted as if the choice to default were morally neutral, we’d either lose most of our credit system, or the legal rules would have to be much more punitive.
Barack Obama, Spendthrift
While speaking at Arizona State University, Barack Obama called on students to exercise fiscal restraint and not over-leverage themselves. Strangely, the Gateway Pundit says that’s exactly Obama did in his personal life by mortgaging his family’s home until they were well “under water”.
Reich Wrong on Social Security, Medicare
Writing about the $13T in unfunded Social Security obligations, Robert Reich, the former Secretary of Labor, says “Social Security is a tiny problem” and “Medicare is entirely different. It’s a monster.” Reich is right that Social Security is the lesser of two evils; however, he’s dead wrong about Social Security being a little problem.
Media Notices Obama’s Budget Disaster
In a sharply worded article the AP has finally taken notice of the Obama budget deficit and called it what it is – an economic nightmare. Moreover, Mr. Obama is identified as being part of the problem rather than the solution. Good to see a dose of reality in the morning news, even if the news is bad.