California leads the nation in a number of ignominious categories. Its budget deficit of $26 billion is nearly twice as large as that of the next state (Texas). It ranks second in unemployment at 12 percent, behind only Nevada. Unemployment is so pervasive that six of the 14 metropolitan areas in the U.S. with the highest rates of unemployment are in California. Given those ... MORERobert Bryce: California Dreamin'
California leads the nation in a number of ignominious categories. Its budget deficit of $26 billion is nearly twice as large as that of the next state (Texas). It ranks second in unemployment at 12 percent, behind only Nevada. Unemployment is so pervasive that six of the 14 metropolitan areas in the U.S. with the highest rates of unemployment are in California. Given those ... MORELet The Sun Shine In On Public Pensions, Benefits
As debates heat up in states across the country over budget shortfalls, more and more focus is being placed upon the runaway growth in health and pension benefits for state and local government workers. These excessive benefits are a major factor behind the exploding costs of government in many states. It is time to bring these costs under control before they completely ... MOREDavid Harsanyi: Our Imaginary Debt Ceiling
Political posturing trumps economic sense. It is reprehensible how politicians waste our time with whimsical notions about "debt ceilings" and "budgets." A federal debt limit is much like other government guidelines—e.g., "speed limits" and "filing taxes"—that exist only theoretically. In the past decade, Congress has raised the debt limit -- instituted in 1917 to restrain ... MOREThomas Sowell: Fed Up With The Fed?
When people in Washington start creating fancy new phrases, instead of using plain English, you know they are doing something they don't want us to understand. It was an act of war when we started bombing Libya. But the administration chose to call it "kinetic military action." When the Federal Reserve System started creating hundreds of billions of dollars out of thin air, they called it ... MOREWalter E Williams: Let's Blame Speculators
Here's a non-rocket science question: If you expect a reduced harvest of wheat, corn, rice or any other commodity some time in the future, what would be the wise thing to do about your consumption today? I bet that the average person would answer: Consume less now so that more will be available in the future. But how in the world can people be encouraged to consume less now? ... MOREVIDEO: Fight of the Century: Keynes vs Hayek Round 2
Brilliant new economics hip-hop music video by John Papola and Russ Roberts at http://EconStories.tv.
Steve Chapman: Why Birtherism Is Here To Stay
On Oct. 22, 1844, thousands of followers of American evangelist William Miller woke up expecting Jesus Christ to make his triumphant return that day, as they had been told. That night, they went to bed, surprised and disappointed. But Miller's movement endured. It was too much to expect that birthers, presented with President Barack Obama's birth certificate, would say: ... MOREBarack Obama, The Cereal Killer
Administration seeks to protect citizens from their liberty. Food companies are being asked to cut down massively on advertising fatty snacks to children and teenagers. In an attempt to control America's growing childhood obesity epidemic, the long-awaited guidelines, released today by the Obama administration, put pressure on suppliers to rethink how they ... MOREDon't Let The Debt Get In The Way Of The Party
by Mark Steyn. The other day Paul O'Neill said that ... Oh, wait. I suppose I ought to explain who Paul O'Neill is. A decade ago, he was George W. Bush's first Treasury secretary. I have no very clear memory of him except that he toured Africa with Bono and they were photographed in matching tribal dress looking like Col. Gadhafi's Mini-Me twins at a Tripoli sleepover. Other than the dress-up fun, ... MORE
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