One ironclad rule of government programs is “if you subsidize something, you will get more of it.” Thus, paying poor, unmarried women to have children increases the number of children in single-parent families, and paying farmers to grow corn increases the amount of corn cultivated.
After a meeting with his economic team and Federal Reserve Chairman Ben Bernanke on June 29, President Obama announced "the economy is strengthening" and "we are into recovery." The recovery mantra, however, seems to be falling on more and more deaf ears these days.
The one thing that economists seem to agree on is that any economic recovery will be an uphill battle for some time to come. But if you’ve ever pulled a heavy wagon up a hill, you know what happens if your fellow pullers decide to become riders instead and jump on the wagon.
The results of a Gallup poll taken from June 11 through 13 and released on June 17 indicated that more Americans rate the economy and jobs as the nation’s biggest problems than the ongoing oil spill in the Gulf of Mexico.
The Wall Street Journal took another look at the $13 trillion national debt written about here last week and announced that, according to a study by economists Carmen Reinhart and Kenneth Rogoff, the economy has now reached the tipping point, the Reinhart-Rogoff Line, better known as the point of no return.