Our “progressive” president goes backward — to the same policy that caused the current recession.
Under growing pressure from conservatives and “tea party” activists, Sen. John McCain of Arizona is having to defend his record of supporting the government’s massive bailout of the financial system. In response to criticism from opponents seeking to defeat him in the Aug. 24 Republican primary, the four-term senator says he was misled by then-Treasury [...]
The catastrophe that struck America’s financial system in 2008 was not inevitable. Rather than a failure of markets, it was a failure by government to understand its proper role in markets — and the product of an unwise (and unnecessary) abandonment of a sensible system of rules and boundaries that had served American finance well [...]
The United States is in a tough spot. As we dig ourselves out from a serious financial crisis and a deep recession, our very efforts to recover are exacerbating much more fundamental problems that our country has let fester for too long. Beyond our short-term worries, and behind many of today’s political debates, lurks the [...]
With the news that GDP grew at 3.5% in the third quarter, it seems apparent that economic recovery is underway. How much of this was a result of government programs? To evaluate this, it is important to understand what constitutes a recovery. There are three developments needed to restore the economy to its prior vibrancy. [...]
Is there anyone in public life more reviled than economic eminence and White House chief economic advisor Larry Summers? Liberals, moderates, women, academics, and now, with his hand in the financial crisis, Middle America: he’s managed to offend them all. But if there is any good still lingering anywhere in the vicinity of Summers, the [...]
I’m trying to come up with a yardstick to measure the incompetence of the Obama administration — and failing.
And it’s political incompetence I’m talking about. You come into office in the midst of the biggest financial crisis in decades and facing what you at least are telling the public the threat of a general economic [...]