Standard & Poor’s recently downgraded the U.S. to a double-A plus rating for the first time in almost seventy years. No longer can the U.S. be counted among the ranks of triple-A nations such as Germany, France, Canada, and the U.K.—not after the succession of economic crises that began before 2007 and which have only continued since then. But was [...]
On August 2, the day the nation’s debt ceiling deal was finally enacted, we were given yet another example of how true moderation has ceased to exist in America. The deal inexplicably ignores reality by withdrawing $1 trillion from the economy despite pallid growth rates and cutting federal benefits for the unemployed despite soaring unemployment rates. It insists that we [...]
With less than two days to go, Congress and the White House have moved in an expected direction on the debt crisis talks, producing few surprises along the way. On Friday night, House Speaker John Boehner (R-OH)’s version of the debt limit bill finally passed in the House on a 218-210 party-line vote, with no Democrats voting “aye” and 22 [...]
Lately, the economy has functioned almost like an earthquake. 2008 caused fractures all throughout the U.S. and even beyond—an earthquake so large that it almost entirely redefined the economic landscape so to speak. Since then, there have been nothing but aftershocks—minor economic problems when compared to 2008, but still enough to leave the world trembling. Now, it seems that the [...]
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