Kentucky Republican Senator Rand Paul appeared on CNBC on Thursday to talk about the anti-tax pledge and New Y0rk Democratic Senator Charles Schumer’s criticism of the Republican Party’s apparent abandonment and “divorce” from the pledge. Paul explained that most of the money that is sent to Washington is wasted and misallocated. He stated that he […]
Archives for November 2012
U.S. nears next economic collapse as debt ceiling reaches limit soon
The Congressional Budget Office (CBO) issued a new report Thursday that noted the statutory debt limit of $16.394 trillion will be met by the end of December, but the Treasury Department can take certain measures to fund government without an increase in the debt limit until the end of February or beginning of March. At […]
Friedrich Hayek takes on a wealth redistributionist on ‘Firing Line’
Friedrich Hayek, author of “The Road to Serfdom,” made an appearance on William F. Buckley’s “Firing Line.” During this appearance, he debated a wealth redistributionist and our friends over at Common Sense Capitalism published the video and it is a compelling near three-minute clip. You can also check out our blog posts regarding William F. […]
Student loan bubble collapsing as delinquencies skyrocket
Total student loan debt outstanding reached the $1 trillion mark for the first time late last year. New data from the Federal Reserve Bank’s Quarterly Report on Household Debt and Credit is now showing that the student loan delinquency rate is a growing issue and a “red flag.” The figures released Thursday suggested that 11 […]
Federal government looking for cheapest way to counterfeit money
Congress is investigating whether it would be cheaper for them to stop printing dollar bills and start using $1 coins instead. Dollar bills are cheap to create but do not last very long, especially as the velocity of money increases with dollar devaluation. Coins are more expensive but last longer. The government can create dollar […]