When President Obama announced a proposed hike in the federal minimum wage rate in his State of the Union address last week, the reaction was swift. House Speaker John Boehner spoke for most Republicans in condemning the increase (from the current $7.25 an hour to $9.00), reminding his colleagues that “when you raise the price of employment, guess what happens? You get less of it.”
The latest report on the financial condition of Social Security from the Congressional Budget Office hides an important fact: the Disability Insurance program will be exhausted in 2016 so that its benefits will have to be paid from other funds, depleting them much more rapidly than estimated.
Capital appreciation bonds, when combined with economic ignorance and political expediency, make up a toxic brew that is likely to explode long before they come due.
The great Seattle gun buyback program was essentially worthless in removing "dangerous" weapons from society, but it did serve to teach essential truths about free enterprise and human behavior.