Federal Budget Deficit
The term federal budget deficit refers to a shortfall in the US federal budget. The federal debt is the total amount owed to creditors; the federal deficit is the shortfall of revenue receipts below spending outlays during any period (such as a year), and thus the amount by which the debt increases during that period.
Recession and Depression
In common usage a recession is a moderate decline, and a depression a severe and lengthy decline, in total economic activity. There is no simple or commonly accepted definition of the difference, however, and both the causes and appropriate cures of recessions and depressions remain hotly disputed.
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.
Certitude and Seeking the Truth
The purpose of debating isn’t so much to win an argument as it is to deepen our understanding of how things really and truly are. It isn’t to out-shout an opponent but, at least now and then, to listen to them, to weight their arguments with care, and even to learn from them.
Anger and Citizenship
A passionate politics, informed and disciplined by reason, can be a politics of the intelligence, a politics of great ideas: a politics, if you will, of sound moral judgment. And sound moral judgment is rarely, if ever, the child of anger.
Manners Makyth Man
One of the many legacies of revolutionary Marxism to the progressive left and, through it, to the popular culture, is the belief that manners are a bourgeois relic that have no place in a world which prizes personal authenticity above all.