Archive for August, 2011

One in seven Americans now receive food stamps. As yet another indicator of the utter absurdity of Keynesian economics, Obama’s Secretary of Agriculture Tom Vilsack is claiming that food stamps (“Supplemental Nutrition Assistance Program”) “mean more jobs” and provide “the most direct economic stimulus”. In the process, he somehow fails to mention that food...
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Regime Uncertainty


Sunday August 14th, 2011   •   Posted by Emily Skarbek at 11:19am PDT   •   1 Comment

The market is a yo-yo following the S&P downgrade – investors are searching for stability amid the policy flux created by the current Congress and Administration. Businesses and investors are struggling to create and sustain stable and accurate expectations as to the rules they are likely to face in the future. Steve Horowitz gives...
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Timeline of Major Events Affecting the Risk of a U.S. Government Default


Saturday August 13th, 2011   •   Posted by Craig Eyermann at 2:36pm PDT   •   0 Comments

Did the S&P 500’s downgrade of the U.S. government’s credit rating change how investors view the risk of default in the United States? Better still, what events during the past several years coincide with changes in the risk of the U.S. government defaulting on the debt it issues? We can answer these questions by...
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U.S. Appeals Court: Obamacare Mandate to Buy Health Insurance Unconstitutional


Friday August 12th, 2011   •   Posted by David Theroux at 7:05pm PDT   •   1 Comment

President Barack Obama’s health care law that requires individual citizens to buy health insurance is unconstitutional. Although the court did not strike down the rest of the health care policy, the decision is a major blow to the Obama administration, which appealed a lower court ruling by U.S. District Judge Roger Vinson, who ruled...
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How Medicare Costs Can Be Really Cut: End Federal Price Fixing


Thursday August 11th, 2011   •   Posted by David Theroux at 7:05pm PDT   •   1 Comment

In his incisive new article in the Wall Street Journal, “Three Simple Ways Medicare Can Save Money,” John Goodman notes that: The most significant reason for our out-of-control deficit spending is health care. And the biggest federal health-care program is Medicare. That’s why almost everybody—on the right and the left— agrees that Medicare must...
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Gold, Money, and How to End the Financial Crisis


Monday August 8th, 2011   •   Posted by David Theroux at 9:50pm PDT   •   0 Comments

Here is a great new video from Gold Resource Corporation, “Gold: Independent Money,” on the governmental abandonment of gold-backed money and the resulting runaway spending, wars, and debt we face today.

Who Won the Debt Debate? The Economy Still Lost


Wednesday August 3rd, 2011   •   Posted by Stephanie Freedman at 9:39am PDT   •   0 Comments

The Economist had a thing or two to say about the debt deal that was reached this week. The article “Nuts and bolts” asserts: As for long-term fiscal consolidation, the deal also falls short. Total deficit reduction of $2.4 trillion is less than the $4 trillion that bipartisan groups and political leaders had more...
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Visualizing The Debt Deal


Tuesday August 2nd, 2011   •   Posted by Craig Eyermann at 11:15am PDT   •   8 Comments

How has the projected future of spending for the U.S. government changed as a result of the recent debt deal in Washington D.C.? Stanford University’s John Taylor put together the following chart to illustrate the effect the two-part planned spending reductions that are called for in the just passed Budget Control Act of 2011...
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Debt Deal Comes to a Conclusion?


Monday August 1st, 2011   •   Posted by Stephanie Freedman at 9:37am PDT   •   1 Comment

After late night phone calls and negotiations lasting well into the evening hours, President Obama announced late Sunday night that a deal was reached on the debt ceiling crisis with Congressional members of both parties. As the deadline of August 2nd loomed over the halls of Congress, leaders promised to present the compromise to their caucuses on Monday...
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