The Great “Fiscal Responsibility” Hoax

You’re probably worried about the federal budget deficit. Seven out of every ten American voters say the deficit plays a “very important” role in deciding whom to vote for. And you probably think that Mitt Romney is the candidate who would do a better job of reducing the deficit. In this category, voters favor him…

Don’t Repeal the CRA. Expand It.

In 1977, Congress passed (and President Jimmy Carter signed) the Community Reinvestment Act to reduce discrimination in lending. Specifically, many banks were ignoring creditworthy, qualified borrowers in low-income, mostly-minority neighborhoods — a practice known as “redlining.” If banks were going to accept federal deposit insurance and access to the Federal Reserve’s discount window, the least…

Quote of the Day: Andrew Bacevich

The sequence of military adventures set in motion when Jimmy Carter promulgated his Carter Doctrine back in 1980 makes for an interesting story but not a very pretty one.  Ronald Reagan’s effort to bring peace to Lebanon ended in 1983 in a bloody catastrophe.  The nominal victory of Operation Desert Storm in 1991, which pushed Saddam…