Greece, Spain, Ireland, Portugal, and Italy (and California). In each case, the promise of more bailouts and a steady flow of cheap money only produced more reckless behavior, excessive levels of government spending, and record levels of debt.
It’s widely believed that JPMorgan Chase’s recent $2 billion–plus loss proves we need the comprehensive banking regulation called for by the 2010 Dodd-Frank law. Not only is that belief wrong, but the only way to minimize systemic damage from banking without stifling productive innovation is to end all guarantees and all barriers to competition.
An overwhelming majority in the House of Representatives voted to reject the Smith-Amash Amendment that would have repealed the provision of the NDAA that authorized the indefinite detention of Americans.
The revelation of a 1991 biographical sketch of Barack Obama that states he was born in Kenya, plus other evidence that he is Kenyan-born, have been discounted as irrelevant and attention has been deflected from the subject by members of the so-called conservative media.
A federal appeals court has ruled that the prayers opening the monthly government meetings in Greece, New York, over the past 10 years have been too Christian. The U.S. Court of Appeals for the 2nd Circuit found that Greece’s policy of opening monthly meetings with an invocation violated the First Amendment’s supposed separation of church and state because the prayers have been almost exclusively offered by representatives of the Christian faith.
Only days after Franciscan University in Steubenville, Ohio, announced that it was terminating its student health insurance program, officials at Ave Maria University in Ave Maria, Florida, are voicing moral and financial concerns about their own student health program in light of ObamaCare's stringent guidelines. President Obama’s landmark healthcare overhaul has spurred a controversy not just for its contraception mandate, but also for the swelling economic costs accompanying its implementation.
President Barack Obama must surely rue the day he appointed Katherine Forrest to the federal bench. On Wednesday, U.S. District Judge Katherine Forrest issued a preliminary injunction against Section 1021 of the National Defense Authorization Act (NDAA), the section that gives the President “the absolute power to arrest and detain citizens of the United States [and of other countries] without their being informed of any criminal charges, without a trial on the merits of those charges, and without a scintilla of the due process safeguards protected by the Constitution of the United States,” in the words of The New American’s Joe Wolverton, II. Wolverton should know: He was a member of the legal team representing the plaintiffs.
After billionaire Facebook co-founder Eduardo Saverin drew global attention to the growing number of Americans giving up their U.S. citizenship to preserve their wealth and escape burdensome IRS regulations, two Democrat Senators outraged by the accelerating trend introduced the “Ex-PATRIOT” Act to get revenge — and, of course, to confiscate more wealth for the government to squander.
Last the week the U.S. Court of Appeals for the District of Columbia Circuit denied a Freedom of Information Act (FOIA) request filed by the Electronic Privacy Information Center (EPIC) aimed at discovering the content of all electronic correspondence between Google and the National Security Agency (NSA).