Archive for July, 2011

The Dilemma of “Too Big to Fail” Bank Bailouts


Saturday July 16th, 2011   •   Posted by David Theroux at 2:44pm PST   •   0 Comments

In his article in the Summer 2011 issue of The Independent Review, “The Dilemma of Bailouts,” economist Roy C. Smith (New York University) examines why despite its prohibition of taxpayer-funded bailouts, the Dodd-Frank Act has left the financial system exposed to meltdowns and promotes the shifting of risk from large “systemically important” financial firms...
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3 Reasons Why the Debt-Ceiling Debate Is Full of Malarkey


Friday July 15th, 2011   •   Posted by Emily Skarbek at 11:59am PST   •   5 Comments

U.S. Debt or Default: False Choice on Why the U.S. Debt Ceiling Should Not Be Raised


Thursday July 14th, 2011   •   Posted by Emily Skarbek at 5:16pm PST   •   2 Comments

With the White House and the House of Representatives still at loggerheads over how to resolve the debt crisis, administration officials are turning up the heat, claiming that Washington has only two choices: increase the government’s borrowing capacity beyond the current $14.3 trillion limit or face a catastrophic U.S. Treasury default. If the latter...
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Should Congress Raise the Debt Ceiling? Weigh In!


Thursday July 14th, 2011   •   Posted by Emily Skarbek at 9:18am PST   •   10 Comments

Freakonomics reports yesterday that a new poll from the Pew Research Center and the Washington Post shows more people see raising the debt limit as a bigger risk than not raising it. Steven Levitt and Stephen Dubner conduct their own poll. Weigh in here! As Ezra Klein reports on the development of the Capitol...
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President’s Threat Reveals Democratic Lie on Social Security


Wednesday July 13th, 2011   •   Posted by Paul Theroux at 7:18pm PST   •   9 Comments

Yesterday, President Obama threatened that if the debt limit is not raised by the August 2 deadline, he can’t guarantee that Social Security checks will go out. However, for years Democrats have argued that Social Security is on strong fiscal footing, and reform is unnecessary. The argument is that over the years the government...
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Geithner’s “Fed Unlimited Rewards” Card


Monday July 11th, 2011   •   Posted by Emily Skarbek at 8:30am PST   •   1 Comment

HT: Tyler Watts

Well, Duh! . . .


Monday July 11th, 2011   •   Posted by Craig Eyermann at 8:20am PST   •   1 Comment

The St. Louis branch of the Federal Reserve has come out with the findings of their groundbreaking research into the primary cause of the rise in the U.S. national debt. Is it too little revenue (i.e. tax collections?) Is it too much spending? The report’s authors Daniel L. Thornton and Kevin L. Kliesen summarize...
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A Secret Debt Reduction Blueprint


Saturday July 9th, 2011   •   Posted by Craig Eyermann at 11:21am PST   •   1 Comment

Despite not having taken any action to pass an annual budget for the United States government of any kind for almost two and a quarter years, it appears that the current majority Democratic Party in the Senate may finally have developed a blueprint for the federal budget, one that even promises to reduce the...
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Unemployment Up to 9.2%: Obama Wants Far More Spending, Debt and Taxes


Friday July 8th, 2011   •   Posted by David Theroux at 5:38pm PST   •   1 Comment

With the official unemployment rate having now risen to 9.2%, Patrick Buchanan notes in his new column, “An Establishment in Panic,” that another 7% are underemployed and economic growth is a very weak 1.8%. Obama’s predictable answer is higher taxes and to raise the federal debt ceiling so that even more spending and debt...
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Alternative Debt Solutions: Intergovernmental Debt and Asset Sales


Wednesday July 6th, 2011   •   Posted by Emily Skarbek at 5:51am PST   •   5 Comments

Ron Paul has gone public with proposals for the Fed to destroy $1.6 trillion in government bonds that it is currently holding. As The New Republic’s Dean Baker reports, such a plan might be a way around the impass that has mounted on the Hill. Aside from the practicalities of politics, Paul’s plan is...
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