Economy
Congress Ignores Real Debt Ceiling Drama
Last week the House passed legislation increasing the debt ceiling. The bill was supported by all but four Republicans. For some Republicans, this was the first time they had ever voted for a debt ceiling increase. Perhaps the reason they did so this time was because...
Fiscal Insanity: The Government Borrows $6 Billion a Day, and Weโre Stuck with the Bill
Weโre not living the American dream. Weโre living a financial nightmare. The U.S. government is funding its existence with a credit card. The governmentโand that includes the current administrationโis spending money it doesnโt have on programs it canโt afford, and โwe...
Are Bank Failures a Sign of More Trouble Ahead?
The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history. Just two days following SVBโs collapse, Signature Bank joined the record books as the third largest bank failure in US history. First Republic Bank also seemed on...
Why Not Let Banks Fail?
Imagine that for the last 100 years, the federal governmentโs policy was to bail out every business that was in danger of going under. The policy would consist of shoveling large amounts of subsidies into the business in order to help it remain in business. If,...