Democrats have a winning game. But economics are trump in politics. Past spending sins might crash their parade.
Summary: Some things have remained the same since the birth of the nation-state in 1648, from the fires of the Thirty Years War, and will remain untill the shape of the world changes. Here we have an excerpt from "War is the health of the state" by Randolph Bourne (1918). It could as well have … Continue reading War is the health of the state
In the third year of the worst recession since the 1930's many States totter on the brink of catastrophe, after generations of imprudent management. Ahead lie even greater challenges, as employees cash in on their insanely generous pensions. A few charts tell the tale -- showing America's most profligate states -- from "The State of California … Continue reading American States on the brink of financial catastrophe
Summary: Hard times might lie ahead, forcing difficult choices. We must clearly understand our alternatives, and their history. IMO only clarity of thought and resolute wills will see us through the next decade. How to manage public finances might be our greatest challenge. Why do we continue down a path which almost certainly ends badly? … Continue reading We might default on our governments’ debt in the future. Do you know how often we’ve done so in the past?