It’s official. Republicans in the House and Senate have finally agreed on a new budget resolution for fiscal year 2016. There is not a lot you need to know about the new Republican budget, so in this brief article I aim to tell you everything you need to know.
First, a little review.
According to the Budget and Accounting Act of 1921, the president must annually submit a budget to Congress by the first Monday in February. Because the government’s fiscal year runs from October 1 to September 30, the budget submitted in February is actually for the next fiscal year that begins in October. President Obama submitted his budget
n Ferguson, Missouri, when police and national guard failed to protect businesses from rioting protestors, a private organization called Oath Keepers stepped up to fill the gap.
The presence of Oath Keepers, keeping the peace where police officers failed, helps answer a larger question: how necessary are police?
The heart of the state’s justification has always been that it can provide essential services that the market cannot, chief among them security. While admitting that police abuses were problematic, Miguel Guadalupe of the Huffington Postasserted that, “one thing
Pop Quiz! Without recourse to your text, your notes or a Google search, what line item is the largest asset on Uncle Sam's balance sheet?
A) U.S. Official Reserve Assets B) Total Mortgages C) Taxes Receivable D) Student Loans
The correct answer, as of the latest quarterly data, is ... Student Loans.
The rapid growth in student debt has been an ongoing topic in the financial press. One stunning chart that continues to haunt me illustrates the rapid growth in federal loans to students since the onset of the great recession. Here is a chart based on data from the Financial Accounts Table L.105, which shows
Writing on the Ferguson protests and riots, Darlena Cunha claimed in Time Magazine that the Tea Party “gets its name from a riot, The Boston Tea Party.” Cunha went on to then claim that the Ferguson riots are in the tradition of the Boston Tea Party, which celebrates its 241st anniversary this week.
In response, a number of conservative commentators denied Cunha’s claim (and many similar claims) that the two events are comparable.
Dan McLaughlin opined at The Federalist that the Ferguson Riots are “nothing like” the Boston Tea Party and noted that the Boston Tea Party’s violence — and violence it
Tucked deep inside the 1,603-page federal spending measure is a provision that effectively ends the federal government's prohibition on medical marijuana and signals a major shift in drug policy.
The bill's passage over the weekend marks the first time Congress has approved nationally significant legislation backed by legalization advocates. It brings almost to a close two decades of tension between the states and Washington over medical use of marijuana.
Lyn Ulbricht, the mother of the Ross Ulbricht who is sitting in jail because the government alleges he was the operator of Silk Road, emails:
I thought you’d be interested to know that the government has asked the judge to limit the defense by not allowing any of Ross’ political or philosophical beliefs to be introduced to the jury as they might influence the jury in his favor. The prosecution
Recent events surrounding Ferguson, Missouri and the choking death of Eric Garner have brought police misconduct to the forefront. Libertarians rightfully point out that police (unlike private actors) are largely immune from criminal prosecution, civil liability, or even losing their jobs. And because police forces obviously are not subject to market discipline, the incentives are all wrong: the worse crime gets, the more their budgets grow.
But the mainstream media fail to understand that police are merely the visible business end of the state: it’s the state itself that’s out of control, and abusive police are but one symptom of this larger problem.
Since neither Left nor Right have a serious answer to police malfeasance, we asked the inimitable Bob Murphy to join us and make sense of how private defense agencies might work in an anarcho-capitalist society.
What do Rothbard and Hoppe have to say about this? How would an insurance model compare to the state’s growth model? And how do we overcome common objections by those who insist that government must have a monopoly over the use of force?
A: Oil prices are collapsing. Consumers are pouring less of their money into their gas tanks. That should be good for the economy and stocks, right?
Not exactly. The stock market is struggling this month as the decline in oil prices intensifies. There are several reasons for this. First is the direct hit. Lower gasoline prices result in lower prices of shares of energy stocks, which are a big contributor to the markets. Exxon Mobil (XOM) is the fourth most valuable company in the Standard & Poor’s 500 so when its shares tumble,
Thomas Jefferson became one of my heroes when I was 13 years old. So you’d think I’d enjoy hearing people say good things about him, but very often, I don’t. My reason is simple: the people who praise Jefferson seldom really understand him, and if they did, it’s questionable that they’d like him. (Others try to get rid of him by trashing his reputation.)
What are we to make of the Senate committee report on the CIA's use of torture? Scott Horton gives you the only briefing you'll need -- complete with the information the report left out. Scroll down for the show notes and the mp3!
The Senate committee report on the CIA’s use of torture has generated intense discussion. I can think of no one better to explain the significance of it all than Scott Horton, a regular guest on the Tom Woods Show.
The abolition of slavery was one of the greatest achievements of Western civilization; one might also call it the crowning glory of the tradition of thought known as classical liberalism. But how did it happen? Historian Jim Powell explains. Scroll down for the show notes and mp3!
When we consider the significance of the abolition of slavery, a ubiquitous and seemingly entrenched institution, it’s surprising how little many of us know about how it actually happened. Jim Powell shares the story with us!
We are told that what makes our system great is that we make political decisions through rational discussion, not the arbitrary fiat of the kings of yore. But in fact, the last thing the state wants is calm deliberation. It thrives on fear. Government power tends to expand no matter what, to be sure, but it expands much more rapidly under what are perceived as emergency conditions. Give us more power, citizen! There’s no time to lose!
My father wasn’t a king, he was a taxi driver, but I am a prince – Prince Renato II, of the country Pontinha, an island fort on Funchal harbour. It’s in Madeira, Portugal, where I grew up. It was discovered in 1419; Captain James Cook has been here, and there are paintings of his visit.
In 1903, the Portuguese government didn’t have enough money to build a harbour port, so the king sold the land to a wealthy British family, the Blandys, who make Madeira wine. Fourteen years ago the family