Constitutionalists and free-market economists claim that the idea that every high school graduate is entitled to a government-subsidized loan to attend a $30,000-a-year university is fiscally maniacal. But unfortunately, it’s also a fiscal reality that has propelled college graduates into financial Armageddon.
Senator Jim DeMint has introduced a bill to make all states right-to-work states.
Despite predictable outcries against a plan advertised as a $5.3-trillion cut in federal spending over the next 10 years, House Budget Committee Chairman Paul Ryan (R-Wis.) says voters are ready to embrace the kind of cuts he has outlined in his proposed budget. Appearing on the "Morning Joe" show on MSNBC shortly before the release of his spending plan Tuesday, Ryan acknowledged he had been advised by some of his Republican colleagues not to propose deep spending cuts, especially to Medicare, in an election year. But, the budget chairman argued, the mounting national debt and growing concerns about its effect on the nation's economy have changed the public's attitude toward spending cuts.
One of the things that turned up, during a long-overdue cleanup of my office, was an old yellowed copy of the New York Times dated July 24, 1992. One of the front-page headlines said: "White-Black Disparity in Income Narrowed in 80's, Census Shows."
After every Democrat and one Republican in the Wisconsin Senate voted to kill a regulatory reform bill that would have brought thousands of desperately needed mining jobs to the state, outraged conservative activists and unemployed citizens vowed to turn the heat up. Not only do they plan to keep pushing the legislation, they are targeting two key legislators who opposed the measure for recall elections.
As Greece’s economy and the euro continue to struggle, regular Greeks are increasingly taking matters into their own hands, creating informal underground barter markets and even alternative currencies. And the government is actually encouraging it.
I wasn't surprised by the latest report from the Commerce Department that shows the U.S. trade deficit, the excess of imports over exports, had jumped in January to the biggest imbalance in more than three years.
The Housing and Urban Development Department (HUD) is doling out $42 million in federal funding for housing counseling grants to 468 local, regional, and national organizations. Intended to prevent foreclosures and assist new home buyers, the grants will offer free assistance on foreclosure avoidance as well as educate buyers on how to rent or purchase a home. HUD alleges that beneficiaries of these services will help combat predatory lending practices, because buyers will be equipped with information to help them evade mortgage scams, high interest rates, and unreasonably high appraisals.
Rep. Paul Ryan (R-Wis.) announced on Tuesday the Republican budget plan to take into the election debate; it is in sharp contrast to the Obama administration’s budget announced last month. Two key differences stand out: reducing the number of income tax brackets from the current six to just two (10 percent and 25 percent), and cutting corporate income tax rates from 35 percent currently to 25 percent. The Obama administration wants to raise taxes instead.