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“Keynesians of the world unite” should have been the slogan for the meeting held on Tuesday between President Obama and German Chancellor Angela Merkel. Obama knowing full well that the economy is not doing well has decided to pin the blame on what he calls foreign headwinds. These foreign headwinds Obama is referring to is the current economic situation of G
A battle royal is brewing between the Republican-controlled House of Representatives and the Obama administration over increasing the debt ceiling. The House recently rejected a “clean” bill to raise the debt ceiling that did not include any spending reforms. With the economy lagging and voters rejecting the notion of spending our way to prosperity, the debate over spending is now front and center on the domestic policy agenda. Unfortu-nately, Democrats have failed to address the issue.
Many can recall the short story The Masque of the Red Death by Edgar Allen Poe, in which Prince Prospero attempts to avoid the plague that is ravaging the country side by barricading himself and a number of his closest friends in his abbey. However, despite Prince Prospero’s best efforts he and his friends all fall victim to the plague.
Claude Frédéric Bastiat was a nineteenth century French political and economic philosopher who warned the people in his writings about the dangers of the abuse of law and the nature of government. Bastiat states that the law should be established only to protect a citizen’s life, liberty, and property. Furthermore he w
On Monday May 16th, the Federal government reached the debt limit, and now the Congress is struggling to reach a decision on whether to raise the debt ceiling or to start making substantial cuts. This means cutting spending across the board, leaving no stone unturned in the quest of reducing spending, especially when these cuts have been granted by the Whitehouse. In March, President Obama signed into law a resolution that included a $17 million cut from the International
Thomas Hobbes, a seventeenth century political philosopher, advocated in his famous work Leviathan that the fundamental role of government is to protect its citizens. A fine goal to be certain but where does one draw the line for what is acceptable protection and what is unnecessary? It has become more and more evident that the current systems in place unnecessarily restrict our liberties more than offer us any real protection. The United States Department of Agriculture is just one example of one of those unnecessary
Claude Frédéric Bastiat was a nineteenth century French political and economic philosopher. In his famous work titled That Which is Seen and That Which is Unseen, Bastiat sets up the parable of the broken window. The lesson of the parable is that the destruction of capital only hurts economic growth instead of he
There is an old saying, “too many cooks spoil the broth.” That very well could be true but an even truer statement is that too many Keynesians ruins the currency. Once again Peter Diamond is expected to be considered to fill a vacate spot on the Federal Reserve Board. Peter Diamond
Do you trust the government’s bureaucrats in the Food and Drug Administration more than yourself to judge what is safe to eat? This question goes straight to the heart of the bill HR 1830 introduced on May 11 by Congressman Ron Paul. This bill will allow the shipment and distribution of unpasteurized milk and milk products for human consumption across state lines. With the passage of HR 1830 the bill would remove the unconstitutional restraints placed on fa