We older Americans have saddled our youth with a mind-boggling public debt — over $20 trillion already spent ($14.3 trillion of “official” national debt plus various off-budget expenditures, according to the U.S. Treasury); trillions more of projected deficit-spending over the coming decade; and tens of trillions of dollars of unfunded liabilities. By the time today’s … Read more
Free speech has always been one of our most cherished rights. It has come under attack repeatedly by those who find it to be an inconvenient and unwanted obstacle to the attainment of their political goals. Sometimes, those in positions of power ignore the First Amendment and issue laws and regulations to silence their opponents. … Read more
The trustees of the Medicare system recently reported that the program will go broke in the year 2024—five years sooner than was projected just last year. The millions of Americans who have been counting on Medicare to be a reliable, stable guarantor of affordable healthcare in their senior years should be asking themselves, “Who is … Read more
Saudi Arabia has long been the dominant producer of petroleum on the planet. Nature endowed the Arabian Peninsula with gigantic deposits of this vital source of energy. Many of us have lamented the quirk of nature that placed much-needed oil in the most geopolitically unstable region in the world. Although Saudi Arabia is the … Read more
In most, if not all, states, pupils must pass a course in American history to receive a high-school diploma. Unfortunately, when it comes to our country’s economic history, most students are poorly taught, perhaps wrongly taught. Mythology and error prevail where facts and truth should reign. Some economists and historians have made excellent contributions to … Read more
As Americans increasingly feel the pinch of higher prices for food and fuel, the Federal Reserve’s QE2 policy of creating more money has been called into question. Asked if the Fed bore some responsibility for these vexing price increases, Fed Chairman Ben Bernanke essentially replied, “It’s not our fault.” Instead, Bernanke blamed the price … Read more
Recently, CNN’s Money.com posted an article bearing the title, “U.S. Millionaires Population Expanded by 8 Percent in 2010.” According to the article, there are now approximately 8.4 million millionaires in the United States, and last year’s increase was due primarily to rising stock prices, following a 27-percent decline in the number of millionaires in … Read more