The national debt is at an all-time high of around $16 trillion. That’s scary enough. But it turns out that number is just piercing the surface. If you include all the unfunded federal obligations to Social Security and Medicare it would add up to near $116 trillion!
Midterm elections are fast approaching. Here’s what makes midterms unique and what you can expect to see as November nears. 1. Low Turnout Voter turnout during non-presidential election years is traditionally low. The presidential election usually brings out between 55-65% of registered voters. Midterms, however, generally see only 40% of registered voters. This is not…
Photo by U.S. Army Corps of Engineers Los Angeles District 1. CBP spent 4.6 million to buy luxury homes for border agents A new Inspector General report has found that US Customs and Border Patrol spent more than $600,000 each on houses that were priced nearly seven times higher than market value. The homes, which…
Photo by mbs120898 10. Thomas Jefferson President Jefferson was publicly accused of fathering the children of his slave Sally Hemings, by journalist James Callender (who had also publicized Alexander Hamilton’s affair) in the Jefferson–Hemings controversy. Hemings was the half-sister of Jefferson’s wife Martha, and based partly upon DNA evidence, there is now a scholarly consensus…
Bailout? More like throwing money into sinking ships Repayments from institutions which received federal funds during the bailouts of 2008 and 2009 have lessened the total of the programs cost to taxpayers. In total the federal government injected cash into more than 700 institutions. While proponents of central planning point to the repayments as success, it’s…
There’s a lot of talk about money in politics. As we have previously discussed, a lot of the concern is misplaced or based on misconceptions. The urge to construct more laws to make things fairer is a popular one among Americans. The idea is that more regulation will stem some of the money flowing into…
The idea that higher revenues can be raised by lowering tax rates seems counter intuitive to many. In fact, politicians who campaign on lowering taxes are often derided as liars, especially in light of budget deficits. It is often asked: how can anyone promise to cut taxes when the government is already short on revenue?…