Free Republic

Future historians will see that speech – the culmination of a decade of Labour's fiscal incontinence – as the moment when the UK was irrevocably relegated from the world's economic premier league. Amidst audible gasps in the Commons, Darling revealed the UK's national debt would swell from 37pc to 80pc of GDP by 2014, not including the bank bail-outs. Just 12 months before, he'd claimed that sovereign debt would stay below its 40pc ceiling. This country would borrow £703bn over the coming five years, Darling announced in April – a head-spinning 62pc more than his estimate five months earlier. Borrowing...

10.2% and Rising. http://www.wiseandfrugalgovernment.blogspot.com/ "Concentrated power has always been the enemy of liberty." --Ronald Reagan I miss Ronnie. Don't you? Frankly, I am sick and tired of being told American is no longer great. That our only hope is for the government to take over every part of our lives. That we must pay for past sins and successes. I am tired of the finger wagging. And the somber faces. Tired of the incompetence and the arrogance. And I am tired of the lies. Especially Obama's. The Chief Fiddler speaks and acts without experience to support the veracity of his...

CHICAGO, Jan. 5 — The annual meeting of the American Economic Association, which opened here on Friday, is usually a pretty esoteric affair. But this year it could resonate much more broadly as the departing president of the organization, which represents most of the nation’s academic economists, tries to push prevailing economic theory further away from the free market approach that has generally held sway for the last four decades. The protagonist in this drama is George A. Akerlof, a Nobel laureate, who is using the same platform that the late Milton Friedman adopted in 1968. As president of the...