Word: ifs
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Almost everyone seems to think that these mounting debts are a severe threat to American prosperity. But what if the real problem isn't too much debt but too much anxiety about debt?
The concern, of course, is that one day rates will inevitably go up, which means interest payments will too. According to this school of thought, as our debt grows, lenders will be willing to take the risk of giving more money only if they can get more in return. And...
Worrying about debt is like gaining too much weight and worrying about the size of your clothing. America's indebtedness would be sustainable and even healthy if the underlying economy were vibrant, innovative and strong and if federal and state governments could channel those moneys productively and quickly. The problem...
Baqubah, the capital of Iraq's Diyala province, is a largely colorless place except for the winter orange harvest and the hundreds of campaign posters that line its streets. But at least the sectarian battles between Sunnis and Shi'ites that once raged through the city are now confined mostly...
There is plenty of reason to be concerned that Iraq's leaders haven't yet learned to compromise. None of the five leading political blocs are likely to emerge from the election with enough seats in parliament to form a government on their own - which means Iraqis may have to...