Barack Obama

Are U.S. Presidents Prepared to Lead Real Economic Reform?


Outgoing President Bush sat glumly on Inauguration Day as President Obama proclaimed a new era of liberty and justice for all — a proclamation that brought global acclaim and new hope to many. Sitting in the cold air Bush may have reflected on his own pledges eight years before.

Aesop Revisited: Unsustainable Spending Does Not Equal Freedom


The American economy could operate more safely by looking to the essentials in Aesop’s Fables than by following Irwin Kellner. Mr. Kellner’s spending advice might pump up the stock market for a short time — long enough to allow elites to dump unwanted holdings at better prices — but would serve to weaken the U.S. relative to other nations like China. Furthermore, added borrowing will increase the national calamity once there is insufficient demand for Treasuries to support the public debt.

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