Two Obvious Facts on the Debt Ceiling Showdown

Written by Robert Murphy on October 10, 2013

Big “showdowns” in Washington are always hype, with both sides distorting the facts so that the hapless citizen–whether he watches Fox or CNN–focuses on irrelevant details and misses the big picture. When it comes to the recurring conflict over raising the debt ceiling, here are two obvious facts that explode just about everything that the […]

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Rothbard on the FED: He Told Us So

Written by Gary North on October 9, 2013

The news that President Obama will nominate Janet Yellen as Chairman of the Board of Governors of the Federal Reserve System should remind us of the disaster that the Federal Reserve is and has been. It was not quite 100 years ago that the Federal Reserve Act was signed into law by President Wilson. This […]

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The October 17 Deadline for a Default Is Fake.

Written by Gary North on October 9, 2013

Treasury Secretary Lew has used this date as a deadline for the end to his cooking of the books. He will run out of “extraordinary measures” to keep cooking the books. To deal with this, he must prioritize payments: who gets what. He says he will not prioritize. If he doesn’t, then he will have […]

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Will the Government Prioritize Its Payments?

Written by Gary North on October 9, 2013

Will the government hit the debt ceiling on October 17? Maybe. Will this force the government to prioritize its payments? Probably not. Why not? Because of computers. Every day, the government sends out at least 3 million checks. On some days, it is 5 million. It deposits money electronically in bank accounts. All of this […]

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California: The Solution to the Problem of Illegal Aliens

Written by Gary North on October 8, 2013

Jerry Brown recently signed into law a bill that prohibits California law enforcement agencies the authority to hand over illegal aliens unless the aliens have committed a major crime. This will make the federal government’s border patrol, and the immigration control organization, the major source of any arrests. They will get no further cooperation from […]

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Chinese Government Official Warns Congress: Get This Settled.

Written by Gary North on October 8, 2013

The Vice Foreign Minister of China, Zhu Guangyao, held a press conference. He told reporters that the U.S. government has a responsibility to get the issue of the debt ceiling solved before the October 17 deadline. “We ask that the United States earnestly takes steps to resolve in a timely way the political issues around […]

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Mass Shootings, Gun Control, and Gun Sales

Posted on October 8, 2013

This is from the Mises Institute.   Much has been written about the economics of gun control, including Kjar and Robinson’s 2009 article that noted the lack of basic economic application to the issue, and that there are ample substitutes available to individuals intent on killing people. Although gun violence “dropped dramatically nationwide” over the […]

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Obama’s Fall-Back Position on a Default

Written by Gary North on October 7, 2013

The United States Constitution is clear: “All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.” (Article I, Section 7) If the Republicans decide not to submit a budget, the government will shut down. That is what we are being […]

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What If Younger Americans Skip Coverage by ObamaCare?

Written by Gary North on October 7, 2013

ObamaCare is structured to force younger healthy workers to pay for older, sicker Americans. The old will sign up. Those with existing conditions will sign up. But younger workers may decide to skip it, pay a small tax, and live with no coverage. Rates on younger workers are likely to triple. Millions of Americans will […]

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