Four reasons America cannot be rescued
In Tuesday’s Financial Times, well-known columnist Martin Wolf argues that “America’s fiscal policy is not in crisis.” “The federal government,” he writes,“is not on the verge of bankruptcy.” “This,” Wolf admits, “is a highly controversial statement.”
Indeed, many analysts believe that the U.S. federal government is bankrupt. They include, among others, economists Jeffrey Hummel of San Jose State University and Laurence Kotlikoff of Boston University. As early as 2006, Kotlikoff wrote an article in the journal of the Federal Reserve Bank of St. Louis, asking the question “Is the United States Bankrupt,” to which he answered affirmatively.
Even official government agencies such as the Congressional Budget Office (CBO) and the Government Accountability Office (GAO), which have each produced scenarios of their own, are less optimistic than the Financial Times columnist. Besides their optimistic scenarios, which they admit are themselves unsustainable, each agency produces…
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Letter: Songs for Jean-François Lisée
Read more: http://www.montrealgazette.com/Letter+Songs+Jean+Fran%c3%a7ois+Lis%c3%a9e/7860135/story.html#ixzz2ItxCRi8v.http://www.montrealgazette.com/opinion/Letter+Songs+Jean+Fran%c3%a7ois+Lis%c3%a9e/7860135/story.html
OK, he’s not the outright winner of the election. That position still belongs to Binyamin Netanyahu. The two big political blocs, right and left, are more or less tied. Likud Beitenu, and Netanyahu as incumbent Prime Minister and winner of the largest number of seats, will get the first opportunity to form a coalition, but it might prove difficult. As the Times of Israel reports, “Let the arithmetic begin“.
For starters, it should be noted that Benjamin Netanyahu and Avigdor Liberman’s Likud-Yisrael Beytenu list is clearly best positioned to head a stable government. It is therefore almost certain that President Shimon Peres will ask the incumbent prime minister to try to build a coalition first.
While a meager 31 seats for Likud-Yisrael Beytenu does not give Netanyahu the strength he was hoping for, he has little to fear from his new Knesset colleagues and rivals. Even if Yesh…
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bibi fence hopping