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, […]
Economy
Crony Capitalism
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
George W. Bush’s 2010 Tax Miracle
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
George W. Bush’s 2010 Tax Miracle Read More »
NY Times Advocates Spending Cuts
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
NY Times Advocates Spending Cuts Read More »
LA’s Urgent Financial Crisis
APRIL 10, 2010 L.A.’s Global Warning The finger-pointing begins in the city’s financial meltdown. In Los Angeles’s latest soap opera, city controller Wendy Greuel has declared an “urgent financial crisis.” Get used to hearing those words a lot across the urban landscape. Ms. Greuel warned that next month L.A. could run out of money if
LA’s Urgent Financial Crisis Read More »
Chris Christie Takes On Jersey!
APRIL 17, 2010 New Jersey’s ‘Failed Experiment’ The new governor is on a mission to make his state competitive again in attracting people and capital. By JAMES FREEMAN ‘I said all during the campaign last year that I was going to govern as if I was a one-termer,” explains New Jersey Governor Chris Christie on
Chris Christie Takes On Jersey! Read More »
Larry Summers Words Come Back to Haunt Him
APRIL 13, 2010 Incentives Not to Work Larry Summers v. Senate Democrats on jobless benefits. ‘The second way government assistance programs contribute to long-term unemployment is by providing an incentive, and the means, not to work. Each unemployed person has a ‘reservation wage’—the minimum wage he or she insists on getting before accepting a job.
Larry Summers Words Come Back to Haunt Him Read More »
Chris Christie – “I’m Not Signing a Tax Increase”
APRIL 13, 2010 Reaganism, New Jersey Style By WILLIAM MCGURN If you think that Snooki getting socked in the kisser during an episode of “Jersey Shore” epitomizes life in the Garden State, you haven’t been paying attention. The best reality show on television today isn’t running on MTV. It’s in Trenton, where Gov. Chris Christie
Chris Christie – “I’m Not Signing a Tax Increase” Read More »
Heritage Foundation -Wall Street Bailouts Forever
Morning Bell: Wall Street Bailouts Forever Posted By Conn Carroll On April 14, 2010 [1] There is no person more central to Washington’s bailouts of Wall Street than Treasury Secretary Timothy Geithner. As President of the Federal Reserve Bank of New York, he oversaw the federal bailout of Bear Stearns [2] and under former Treasury
Heritage Foundation -Wall Street Bailouts Forever Read More »
Did FDR End the Depression?
APRIL 12, 2010 By BURTON FOLSOM JR. AND ANITA FOLSOM ‘He got us out of the Great Depression.” That’s probably the most frequent comment made about President Franklin Roosevelt, who died 65 years ago today. Every Democratic president from Truman to Obama has believed it, and each has used FDR’s New Deal as a model
Did FDR End the Depression? Read More »