Many of the lessons being learned the hard way in Detroit's bankruptcy will, unfortunately, have to be learned over and over again.
The mathematically inevitable end of one of the Ponzi schemes in Social Security draws closer as the number of disability recipients continues to increase.
Just one in 10 American adults is opposed to auditing the shadowy Federal Reserve, with an overwhelming 74 percent supporting an audit of the controversial central bank, according to a new poll released by Rasmussen. While the banking cartel-run institution has hired lobbyists and unleashed various gimmicks to improve its image and protect its cloak of secrecy from Congress and the public, it appears increasingly clear that the people see through the charade. Now, the question is whether lawmakers will side with the establishment to protect the Fed, or with the American public and their demands for transparency.
Janet Yellen, President Obama's choice to succeed Federal Reserve Chairman Ben Bernanke next year, is among a number of influential economists who would welcome a higher rate of inflation to boost a stagnant economy and reduce unemployment.
The left-leaning Brookings Institution admitted in an October 31 report that the Obama administration's “Cash for Clunkers” program was an almost complete waste of billions of taxpayer dollars. The report concluded that the 2009 subsidy for new car buyers had no measurable long-term impact on economic growth and cost $1.4 million for every “job-year” that was created under the program.