by Richard W. Rahn | Nov 27, 2012
If you lend money at 5 percent interest for 10 years and then suddenly the borrower announces that he is only going to repay you at 30 cents on the dollar, would you think you have been cheated? The Argentine government defaulted on its debt a little more than a...
by Richard W. Rahn | Nov 20, 2012
Dennis Van Roekel, president of the largest teachers union, the National Education Association, failed fifth-grade math last week. The question he failed is: If X (government spending) is growing faster than A (government tax revenue) plus B (new revenue from higher...
by Richard W. Rahn | Nov 13, 2012
Last Friday, President Obama said, “We can’t just cut our way to prosperity. If we are serious about reducing the deficit, we have to combine spending cuts with revenue — and that means asking the wealthiest Americans to pay a little more in...
by Richard W. Rahn | Nov 6, 2012
The media focus has been on the presidential campaign, but the makeup of the U.S. Congress is likely to have an equal or perhaps even greater impact on your future economic well-being. The president often is blamed for the deficit by folks on both the right and the...
