Federal Budget Deficit

The more than tenfold difference between federal and state budget deficits under identical economic conditions suggests that the fact that state governments in the United States do not have the power to issue money is a more powerful curb on budget deficits than constitutional prohibitions.

Recession and Depression

Keynes himself explicitly stated that if prices are fixed in ‘real’ terms, ‘stimulative’ Keynesian policy would not work (a proviso often ignored by Keynesian followers).

An Invitation to a Roman Lent

Exploring the “station churches” of Rome — and meditating on the daily liturgical texts — make for an unforgettable Lent.

President Obama’s Budgetary Deceptions

President Obama’s last budget plan demonstrates again that he isn’t serious about confronting the nation’s budgetary challenges.

An Open Letter to Jeb Bush

If Gov. Bush were to drop out of the race now and endorse Marco Rubio, or at the very least, call off the attack dogs, he would be advancing everything he says he believes in except himself. It would be a gracious and inspiring gesture.

Pope Francis and the Russian Patriarch Will Meet, as Ukrainian Catholics Watch and Wait

The announcement that Pope Francis will meet with Kirill, Russian Orthodox patriarch of Moscow, in Cuba on February 12 is, paradoxically, both a Big Deal and something that ought to have become routine by now.

A ‘Brexit’ Wouldn’t be the Economic Calamity You’ve been Warned About

The EU needs a swift rebuke. The British people should give it to them.

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