Government is self-limiting -- only government can make itself smaller. Illinois is the state with the highest number of taxing bodies, so Nancy Mathieson of Truth in Accounting believes that Gov.-elect Bruce Rauner should take it upon himself to enact those self-limiting governmental powers.
Washington's obsession with tax cuts and deficit reduction is distracting the American people from the slow dismantling of the social contract, and its devastating impact -- financial and otherwise -- on all but the wealthiest among us.
Higher education costs are not soaring out of control. What is changing is the politically-charged matter of who should bear the cost -- the general taxpayer or the individual student. There is a policy choice tucked away here behind the overall numbers, and a rather ugly one at that.
The pension crisis is yet another downside of the Fed's quantitative easing that creates a Catch 22 for pension stewards. It makes it difficult if not impossible for pension fund managers to get a decent return by investing in low-risk federal securities.
As reports thicken of a possible deal between the White House and the House Republicans -- a deal which will supposedly avoid the rest of us going over some fiscal cliff on January 1 -- it is worth remembering at least four reasons why such a deal is probably best avoided.
There is indeed a real fiscal cliff that the United States is racing towards. It's the very same cliff that Europe has already dived over. That cliff is based on the collapse of our debt and dollar markets, resulting from the lost faith on the part of international investors.