The “fiscal cliff” idea stems from one simple fact: the U.S. economy is too weak to support the revenue needs of the government, leading to ever increasing deficits. At some point in this sequence the dollar will crash or the government default on its obligations. Either would be a disaster. Hence the talk of drastic increases in taxes coupled with huge cuts in spending. Given the power and influence of the interest groups concerned, such measures might in Read More …
With the election over and done the new matter at hand is the “fiscal cliff” – a dire menace now facing the nation. As in all cases where the media whip up excitement or panic one must distinguish between packaging and content. So let us address the packaging first: The issue of raising the national debt ceiling surfaced at a most inconvenient time – just as the election campaign was getting into high gear. Neither the administration nor Read More …
At first reading, this appears to be a meaningless question. The Soviet Union disappeared two decades ago and with it went its collective farms. But economic systems can be alike regardless of the ideologies used to justify them. The current trends in global agriculture (America included) are leading to a system very similar to the Soviet model. Thus an analysis of how the system worked (or failed to) is relevant to our future. Before the 1917 revolution agriculture Read More …
Colorado Congressional District 5 covers El Paso County, site of Colorado Springs, the state’s second largest city, as well as five “rural” counties to the south and west. It is considered solidly Republican. GOP Representative Doug Lamborn, now running for a fourth term in the House, is nevertheless being challenged by Dave Anderson, a businessman running on an independent platform. Lamborn is a local attorney who served in the Colorado Senate before going to Washington, where he is Read More …
Both presidential candidates promise the voters they will “grow” the U.S. economy. Their plans to do this are schematic at best. For the last four years, despite massive deficits and money creation, the U.S. economy has (officially) achieved something like 2% growth yearly, and even that appears in question at this time. Commentators contrast this performance with the 10% achieved yearly by China. Setting aside the problems the Chinese are saddled with, 10% growth is no record. America Read More …