CATO: The Economics of Bad Ideas
This 5-point news brief by the CATO Institute is a must read. Excerpts below to whet your appetite. 1. “ We are a sovereign currency, we can print all the money we want to serve the people whom we serve .” By Former House Budget Committee chair John Yarmuth (D‑KY), testifying to Congress on October 19, 2023 CATO : Ignoring the threats posed by our ever-increasing debt will only exacerbate problems for future generations, burdening them with slower economic growth, runaway inflation, and higher interest rates. Panos : for a decade now, China and Russia are trying to dethrone the US$ as the main world currency, with some limited success. This will be huge help to them. Recall that up to WWII the British sterling was the leading currency. 2. “ It is time to scrap the cap, expand benefits, and fully fund Social Security .” By Senator Bernie Sanders (I‑VT) CATO : Despite the dismal outlook, leaders on both the left and right have failed to offer realistic solutions, while some law...