The Atlantic magazine derided a series of economic studies estimating "unfunded liabilities" facing the United States at between $38 trillion and $200 trillion, determining through simplistic assumptions that U.S. liabilities are not a problem.
Detroit was once America’s most prosperous city, but now is an urban wasteland. A former Detroit business owner tells his story and explains how the city's economy was killed with bad policy. And, he warns, there are more Detroits yet to come.
Detroit, Michigan’s bankruptcy filing is causing fear that other major U.S. cities face a similar fate as they too are dealing with burdensome underfunded liabilities like retiree benefits.
The announcement by Standard & Poor's on Monday that it is revising its outlook upward is not only useless but counterproductive.
Obamanomics are to blame for the worst recession since the Great Depression; and the present fake recovery compares poorly with that in the 1920s when the government stayed within its constitutional bounds, reduced taxes perhaps 20 percent of their present level, and let the free market breathe once again.