Romina Boccia and Dominik Lett The federal government will spend $6.3 trillion in 2023, 27 percent is discretionary and 73 percent is mandatory. Discretionary spending refers to federal programs that receive funding through annual appropriations. Less than half of discretionary spending is for defense. More than
Marc Joffe A six‐mile extension to the Bay Area Rapid Transit (BART) system would have a minimal impact on personal vehicle emissions according to data in a federal travel forecast. Further, because the federal analysis is based on pre‐pandemic socioeconomic forecasts and travel patterns, it greatly overestimates future
James A. Dorn Hong Kong, once one of the freest jurisdictions in the world, with a rule of law that protected freedom of speech and assembly as fundamental human rights, is now under the direct hand of Beijing after the passage of the National Security Law (NSL)
The Biden administration has decided that the REAL problem with housing is that the wrong people are saving money and making timely mortgage payments. They must be punished. Original Article: "Biden’s New Intersectionality: Where Equity Policies Meet Bad Economics"
The United States House of Representatives’ passage of the Limit, Save, Grow Act of 2023 is a big Republican failure addressing the debt ceiling. The debt ceiling would be raised above the current limit of $31 trillion by $1.5 trillion or through March 2024, whichever
Economically speaking, the US government is bankrupt even if the government won’t admit what is obvious. But how would an actual bankruptcy proceeding go? Original Article: "In the Event of an Official US Bankruptcy"
The character Mike Campbell in Ernest Hemingway’s 1926 novel The Sun Also Rises was asked about his money troubles and responded with a vivid description embracing self-contradiction: “‘How did you go bankrupt?’ Bill asked. ‘Two ways,’ Mike said. ‘Gradually and then suddenly.’” Ground-hugging interest rates for
Progressive governments in the name of equity are calling for taxation of capital gains. They really are demanding destruction of capital through capital consumption. Original Article: "Taxing Capital Leads to Capital Consumption"
A “civil society” is a community of individuals who are linked together by common interests and activities. Common interests include being able to walk the streets safely (peace) and to exercise such rights as freedom of speech (individual freedom). These shared interests allow common activities
With negative growth now falling to near –10 percent, money-supply contraction is now the largest we've seen since the Great Depression. Original Article: "The Money Supply Has Plummeted in the Biggest Drop Since the Great Depression"