moneyAmid all the sound and fury and the "high noon" drama surrounding the debt-limit deadline and the passing of a deficit reduction measure this week, one discomforting fact emerged: Federal spending will continue to increase and the national debt, now approaching $15 trillion, will grow, not shrink, over the next 10 years.

 Despite protestations from Jon Corzine (left), former New Jersey governor, that he has no interest in taking Treasury Secretary Timothy Geithner�s place if Geithner decides to step down, Corzine did manage to have a clause put into his company�s bond offering prospectus that if he did accept the position, bond holders would be paid an extra one percent interest, just in case.  Corzine now heads up MF Global Holdings Ltd. which is planning on selling $300 million of five-year notes which includes an unusual �key man event� clause which pays bondholders an extra one percent:

For some time conservative Texans, especially constitutionalists, have raised eyebrows at Rick Perry’s Texas Enterprise Fund (TEF). The Texas Governor’s website calls the fund a “development tool” providing the state’s leaders with a “deal closing fund,” but its administration is questionable and its existence unconstitutional.

Arizona has taken the problem of illegal immigration seriously. Like several other states, Arizona has not just focused on the illegal immigrants themselves. Those who profit by hiring illegal immigrants also face more rigorous state actions for their misconduct.  In 2007, Arizona passed LAWA or the “Legal Arizona Workers Act,” which provided for escalating legal sanctions up to the revocation of an employer’s right to do business if the employer knowingly hired illegal immigrants.

“3 arrested on raw-milk charges” read the headline. One could be forgiven for assuming the news source was the Soviet-era Pravda or the mouthpiece for some other tyrannical regime. What other kind of government would arrest people over moo juice? In fact, however, that headline appeared in the Los Angeles Times, which was reporting on a raid on a southern California business.