Economics

ObamaPresident Barack Obama blamed the current economic recession on “a binge of risk taking” by bankers in a Today Show interview that aired February 2. Specifically, here’s how Obama explained how the nation has found itself in a deepening economic crisis:

Nancy KilleferBarack Obama appointed Nancy Killefer as his "chief performance officer." It will be her job to find government waste to cut. Obama hopes to cut much of an expected $1.2 trillion federal deficit. (Most of this deficit takes the form of new bailouts and stimulus packages and can be cut anytime — but that's not "waste" in the mindset of the incoming Obama administration, which is pushing for both more bailouts and stimulus.) Killifer's problem, as aptly described by David Greising in the Chicago Tribune: "Name a government function, and there is likely a critic who sees nothing but waste, countered by an advocate who will defend every penny spent."

socialismSocialism, once abhorrent to most Americans, is increasingly being embraced by them. But is more socialism likely to reinvigorate the U.S. economy and help Americans?

Five dollar silver certificateThe "dollar" bills that we routinely exchange for goods and services are not genuine constitutional dollars, but promissory notes substituting for the real thing.

Money TreeSupporters of big government have been blaming the current economic crisis on the free market. We shoot down five of their anti-free-market fallacies and show where the fault really lies.

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