The other day I received a blast e-mail from Americans for Tax Reform (ATR) signed by its president Grover Norquist. Mr. Norquist has become a lightning rod for President Obama and congressional Democrats because of his opposition to higher taxes to address the fiscal crisis in Washington D.C. Read the rest of this entry »
Archive for July, 2011
Good default, bad default
27
Jul
On August 15, 1971, President Nixon announced to the world that the U.S. Government is defaulting on its promise to redeem dollars to foreign institutions that had the right to exchange their greenbacks for gold at the official rate of $35 dollars per ounce. This is in an example of a bad default because the U.S. Government had the legal obligation under the 1944 Bretton Woods agreement that shaped the postwar international monetary system to maintain the dollar as the world’s reserve currency by making it redeemable into gold at a fixed rate.
The end of free speech in America?
24
Jul
Below is an excerpt from an interview with Bernie Marcus, co-founder of Home Deport, published in Investor’s Business Daily, July 20, 2011. Mr. Marcus in the interview criticizes the Obama administration for the torrent of regulations that is stifling small businesses and job creation.
Raise the debt ceiling…to $100 trillion
13
Jul
The negotiations between President Obama, Speaker of the House Boehner and other Republican congressional leaders about raising the debt ceiling and cutting the deficit have stalled because the president wants to increase taxes as part of a “balanced approach” to the federal government’s fiscal imbalances. Republicrats assert that higher taxes are “off the table.”
Sizing up the GOP field: Ron Paul is the likely nominee
11
Jul
By Joe Sansone
It is time to give my honest (although opinionated) assessment of the GOP field. I have attempted to be as accurate as possible in the following critical description of the candidates and their likelihood of success. In essence, these are the pros and cons for each candidate as I see it.