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"Debt" is one of the most frightening words in the English language, conjuring up visions of peonage, deprivation, and prison. Caricatures of debt collectors, such as the mafia shark who breaks the legs of delinquent borrowers, or Shylock, the moneylender of the "Merchant of Venice" who required a "pound of flesh" as security on a loan, haunt our dreams and reinforce Benjamin Franklin's advice
After the first time trying to prepare and file personal taxes, most Americans learn the same lesson: The American tax system is complex and difficult to understand. Many people also feel that corporations, wealthy individuals and families, and special interest groups have unfair access to loopholes and exemptions that help them avoid paying their "fair share." One system that has gained a
Recent Articles in Economic Policy
7 Reasons Why the Keystone XL Pipeline Should Be ApprovedApril 4, 2013
During the past presidential campaign, the Keystone XL Pipeline became a political football. Since that time, the pipeline's planned route has been changed to avoid potential harm
Big Government vs. Small Government – Which Is Ideal for the U.S.?March 18, 2013
The term "big government" stimulates plenty of images and emotions, and they're generally negative. Words like "bureaucratic," "inefficient," "intrusive," and even "corrupt" are
What Is Sequestration – Definition & How It Cuts the National DebtMarch 13, 2013
While our country's ability to borrow money is a valuable asset, particularly in times of need such as wars or economic recessions, continuously maintaining high levels of the debt
What Is the Federal Reserve System – History & How It Affects YouFebruary 25, 2013
The words of Saint Paul to Timothy in the Christian Bible have resonated throughout the ages: "For the love of money is the root of all evil." Therefore, it should come as no
How Can We Reform U.S. Entitlement Programs? – Social Security, Medicare & MedicaidFebruary 12, 2013
Though they managed to avoid a fall from the fiscal cliff in the last hours of 2012, Democrats and Republicans continue to wage political war over the economic and ideological
Importance of Medicare and Impacts on Healthcare & the Federal BudgetFebruary 7, 2013
Imagine a community where all of the physical structures were constructed 50 years ago of wood, have antiquated wiring, and are heated by open fireplaces before the widespread use
Should Social Security Be Privatized? – Pros & ConsFebruary 6, 2013
In 1998, conservative think tank The Heritage Foundation reported that an average American household of two earners with a combined income of $52,000 would pay a total of $320,000
What Is Medicaid – How It Works, Opposing Views & FutureJanuary 23, 2013
Many health officials believe that Medicaid is the glue that helps to hold our healthcare system together, taking on the highest-risk, sickest, and most expensive populations that
5 Political Lies About Social Security – Understanding the ProblemsJanuary 15, 2013
Social Security was created on August 14, 1935 when President Franklin D. Roosevelt signed the Social Security Act and has been controversial since its beginning. A Cato Institute
Will the New CAFE Fuel Efficiency Standards Save You Money?January 11, 2013
When shopping for a car, one major factor to consider is fuel efficiency. With rising gas prices, this is an especially important issue for most consumers. Although some cars
