President Obama’s open letter to the American people published yesterday in USA Today challenges them “to do something big and meaningful" and stand behind his efforts to raise the debt ceiling.

This debate [over the debt ceiling] offers the chance to put our economy on stronger footing, and [to] secure a better future for our children. I want to seize that opportunity, and [to] ask Americans of both parties and no party to join me in that effort.

The Constitution and the early organization of the federal executive branch properly limited the scope of government activities to a few areas. Education was left to the states or to individual Americans. The Northwest Ordinances, originally adopted under the Articles of Confederation, did set aside some land for the support of education, but that was minimal and that was all. Energy, which then meant wood, coal, and water power, was entirely in the hands of private citizens and companies. No funds were used to fight a “war on terror” or to spy on other nations or to try to bribe other nations with foreign aid.  America participated in no international organizations at all. 

Just a month ago one of the most accurate economic forecasters on the planet looked at the economy and concluded that another recession is 99 percent certain.

In an effort to plug leaks at the Federal Reserve, the U.S.'s central bank issued a statement yesterday that members of the Federal Open Market Committee “will refrain” from sharing insider information “with any individual, firm, or organization who could profit financially from…that information.”

Once the awful job numbers announced by the Bureau of Labor Statistics job numbers were digested, it was clear that the clairvoyant economists looking into their crystal balls were dead wrong – again.

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