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Detroit Goes Bankrupt

July 19, 2013

The city of Detroit will file for bankruptcy, the largest American city to ever do so.  If this filing is approved, the city will liquidate what it needs to in order to pay off its debts, meaning that public employees (and their unions) will face a serious crunch. Detroit’s been in trouble since even before [...]

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The Cost of the Crisis: $23 Trillion

July 21, 2009

The events of the last year have produced a flurry of legislation so complex, and debated and passed so quickly, that most of the citizenry (not to mention the members of congress) have no idea what the government has passed and how much we are spending.  Enter Neil Barofsky.  Barofsky is an economist who also [...]

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GM Fails: “Government Motors” Looms

May 30, 2009

Word on the street is that GM is going to finally declare bankruptcy, which they should have done months and billions of bailout dollars ago.  The Obama Nation will control 72.5% of the company, while stakeholders have been pressured into settling for 25%.  Of course, all of this has been done for two reasons: 1)  keeping the [...]

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Are Chrysler’s Dealership Closings Political Payback?

May 27, 2009

One of the arguments against big government and government interference in the economy is government’s unique position to grant political favors to political allies, or to punish one’s political enemies.  One of the many reasons Conservatives believe in limited government is to reduce the potential for corruption, political favors, and political punishment from the government. [...]

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American Bankruptcy

February 27, 2009

Sen. Judd Gregg, interviewed on Hannity last night, stated that the United States was headed for bankruptcy: While it may seem alarmist, the deficit has reached record levels this year in dramatic fashion.  There may come a point where other nations of the world do not want to borrow any more U.S. money, and with [...]

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