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.
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).
Exploring the “station churches” of Rome — and meditating on the daily liturgical texts — make for an unforgettable Lent.
President Obama’s last budget plan demonstrates again that he isn’t serious about confronting the nation’s budgetary challenges.
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.
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.
The EU needs a swift rebuke. The British people should give it to them.
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