Keynesian economist Paul Krugman crowed in the June 6 edition of the New York Review of Books that “the case for austerity has crumbled,” but careful analysts should be cautioning “real austerity was never even attempted.”
Despite overwhelming support among lawmakers and activists, Republican Gov. Jan Brewer vetoed legislation that would have made Arizona the second state to officially define gold and silver as legal tender. The GOP governor acknowledged that concerns over the increasingly unstable U.S. dollar were justified. However, citing a minuscule projected drop in tax revenue and other trivial excuses, Brewer refused to support the popular bill. Activists are now hoping lawmakers will try to override the governor.
Calls to privatize government agencies like the Federal Aviation Administration (FAA) are likely to fall on deaf ears until the government runs out of money.
A closer look at a surprising poll showing a majority of small-business owners favoring raising the minimum wage reveals an organization with an agenda.
The U.S. Department of Energy says it seized $21 million from the reserve account of hybrid automaker Fisker Automotive when it failed to begin repaying a federal loan.