AUGUST 27, 2010 Public Pensions and Our Fiscal Future Few Californians in the private sector have $1 million in savings, but that’s effectively the retirement account they guarantee to many government employees. By ARNOLD SCHWARZENEGGER Recently some critics have accused me of bullying state employees. Headlines in California papers this month have been screaming “Gov
SCHWARZENEGGER SPEAKS OUT ON CALIFORNIA FISCAL WOES Read More »
AUGUST 24, 2010 The Fed Can Create Money, Not Confidence Inflation—or stagflation—remains the more serious danger than deflation. By GEORGE MELLOAN A report by the Federal Reserve Bank of New York last week showed that consumers are having difficulty climbing out of the debt hole they dug for themselves before the credit bubble began to
THE FED CAN’T BUY PUBLIC CONFIDENCE Read More »
AUGUST 22, 2010 Political Reversal Down Under Running an explicitly conservative campaign, Australia’s Tony Abbott has denied Labor a governing majority. By MARY KISSEL Sydney In December the smart set in the big cities here thought the Liberal Party—Australia’s traditionally conservative party—had jumped off a cliff by electing Tony Abbott opposition leader. The Liberals, opined
AUSTRALIAN ELECTION SURPRISE Read More »
AUGUST 23, 2010 How States Hide Their Budget Deficits The SEC’s charges against New Jersey for misleading investors should warn other states against sweeping the truth under the rug. By STEVE MALANGA In April, the New York State Comptroller, Thomas DiNapoli, issued a damning report on the Empire State’s financial practices. Albany’s budgets, he observed,
AUGUST 24, 2010 Virginia Is for Surpluses Erasing red ink without a tax increase. Here’s something you don’t see often these days: a government running a budget surplus. Governor Robert McDonnell announced last week that Virginia closed fiscal 2010 some $400 million in the black. That’s a radically improved financial picture from a year ago
VIRGINIA STOPS THE RED INK WITHOUT A TAX INCREASE Read More »
FoxNews.com – August 24, 2010 More Bad Economic News, Yet Here Comes ANOTHER Wall Street Bailout Existing home sales in July may have suffered a record drop but come September 7, President Obama will have Wall Street investment banks lining up for another huge bailout. Americans may be extremely upset about Wall Street bailouts, but
ANOTHER WALL STREET BAILOUT Read More »
RAHN: An inconvenient economic history Record shows recovery results from tax cuts, not government spending By Richard W. Rahn – The Washington Times August 9, 2010 Chart: Economic Policy and Outcomes Where is the historical evidence to show that big increases in government spending as a percentage of gross domestic product (GDP) lead to faster
U.S. ECONOMICS 101: AN INCONVENIENT HISTORY Read More »
AUGUST 21, 2010 The Teamster Tariffs U.S. workers pay for the Democrats’ Mexican truck ban An 18-month trade war between the U.S. and its third largest trading partner took a turn for the worse this week when Mexico announced new tariffs on 26 previously tariff-free items that it imports from America. Washington state apples and
AUGUST 21, 2010 A massive Keynesian spending program has misallocated capital and set the stage for a crisis. By SHIKHA DALMIA AND ANTHONY RANDAZZO American enthusiasts of more stimulus have been urging this country to look to China for guidance on how to beat a recession. As they see it, while our politicians debated and
CHINA’S LOOMING REAL-ESTATE BUBBLE Read More »
AUGUST 20, 2010 The SEC’s Jersey Score At last, a state gets hit for securities fraud. The movement to clean up state pension funds is gaining momentum, and the latest evidence is that even the Securities and Exchange Commission is getting in on the action. In the Wonders Never Cease Department, the SEC has scored
STATES’ VERSION OF A PONZI SCHEME Read More »
