MAY 5, 2010 Los Angeles on the Brink of Bankruptcy By RICHARD RIORDAN AND ALEXANDER RUBALCAVA Los Angeles is facing a terminal fiscal crisis: Between now and 2014 the city will likely declare bankruptcy. Yet Mayor Antonio Villaraigosa and the City Council have been either unable or unwilling to face this fact. According to the […]
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The New Fat Cats The indefensible pensions of public-sector employees. BY Fred Barnes May 3, 2010, Vol. 15, No. 31 John Edwards was right. There are two Americas, just not his two (the rich and powerful versus everyone else). The real divide today is, on one side, the 20 million people who work for state
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http://www.glennbeck.com/content/articles/article/198/40019/ Who organized all the May 1st prostest rallies? Who put these marchers on the street so fast? The above video reveals the scary answer .. A communist handbook for France and Europe: “The Coming Insurrection.” Put out by the Invisible Committee, says that the time to take the system is now: Europe promised us
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Thursday, April 8, 2010 Greenspan deflects blame for crisis Patrice Hill Former Federal Reserve Chairman Alan Greenspan on Wednesday testified that mortgage giants Fannie Mae and Freddie Mac played a critical role in fostering an explosion of growth in the subprime-mortgage market that led to the global financial crisis. In his first appearance officially defending
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REVIEW & OUTLOOK APRIL 23, 2010 The New Master of Wall Street Obama surveys the financial kingdom that may soon be his. President Obama is a gifted man, but until yesterday we hadn’t known that his achievements include having predicted the financial panic of 2008. It was a “failure of responsibility that I spoke about
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The Energy Policy Morass ‘Think, Baby, Think’ BY Stephen F. Hayward April 26, 2010, Vol. 15, No. 30 If you think the health care debate is a tangled mess, try wading into the thickets of the energy sector, which is high on the Obama administration’s list of targets to subjugate. Few areas of national policy
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APRIL 20, 2010 Fannie and Freddie Amnesia By PETER J. WALLISON Now that nearly all the TARP funds used to bail out Wall Street banks have been repaid, the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac stand out as the source of the greatest taxpayer losses. The Congressional Budget Office has estimated that,
APRIL 20, 2010 An Economy of Liars By GERALD P. O’DRISCOLL JR. (Excerpt from the article): Congressional committees overseeing industries succumb to the allure of campaign contributions, the solicitations of industry lobbyists, and the siren song of experts whose livelihood is beholden to the industry. The interests of industry and government become intertwined and it
APRIL 15, 2010 By DONALD L. LUSKIN With the federal budget deficit estimated at $1.342 trillion for next year, it’s going to take a miracle to put America’s fiscal house in order. Happily, a tax revenue miracle may be just around the corner. At a minimum, it will reduce next year’s deficit by 15%. It
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Economic View – Can’t Cut Spending? Look Around the Globe – NYTimes.com April 16, 2010 Can’t Cut Spending? Look Around the Globe By TYLER COWEN AMERICA’S long-run fiscal outlook is bleak, mostly because of an aging population and rising health care costs. To close the gap between expenditures and revenue, we’ll likely see a combination
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