The current two-year suspension of the federal government’s debt limit is set to expire on July 31, 2021. U.S. Treasury officials will likely be able to push this deadline back to Sept. 30, when fiscal year 2021 funding runs out, using accounting gimmicks or “extraordinary measures.” Without suspending or raising the debt limit by then,...
CNBC recently published an article whose original title demonstrated a fundamental misunderstanding about inflation. The wording was so misinformed that it prompted intense criticism and CNBC changed the article’s title. It originally read “The upside to inflation: rising wages” and was changed to “It’s not certain rising wages will be enough to outpace inflation.” Ironically,...
Many Americans have historically associated “socialism” with things like the Red Scare, Nazism, the Cold War, and McCarthyism. Today, that fear has largely faded—particularly among young people—and has instead become a love affair. A recent Axios/Movement poll found that 51% of 18 to 34 year-olds view socialism positively, though the share is only 41% for...
Tonight, an estimated 13 children will sleep on the floor of CPS offices throughout Texas. “Every day was uncertain,” one child who experienced it routinely told the Texas Tribune. “You don’t know where you’re going to lay your head — where you’re going to get your next plate of food.” The child described the experience...
In recent days, hair-on-fire reports like this one from the Huffington Post claim that the Texas Senate “has passed a bill to eliminate a requirement that public schools teach that the Ku Klux Klan and its white supremacist campaign of terror are ‘morally wrong.’” The reports are misleading at best; even Texas news outlets that...
Holdout Texas Democrats remain in Washington, D.C., denying the state House of Representatives the two-thirds quorum needed to conduct business, with their walkout over election integrity legislation now entering its second week. Texas Republican Gov. Greg Abbott called a special session starting July 8 to consider legislation left undone when House Democrats walked out in...
History repeats itself, and at milestone intervals. It was 100 years ago that President Warren Harding called for a return to normalcy. His vice president and successor, Calvin Coolidge, prickled at this loose expansion of the English language, but agreed with the sentiment. After a series of traumatic events for the nation, including the Spanish...
It happens on the first Tuesday of every month. Bidders gather at the west entrance steps of the Smith County Courthouse, looking for bargains. At 10 a.m., the sales commence—properties are auctioned off to pay the taxes owed on them. Some are vacant lots and some are homes. All were seized from their owners over...
As prescription drug prices continue to skyrocket, Walmart’s new program shows that markets—not government mandates—are key to keeping live-saving drugs like insulin affordable. The nation’s largest retailer is providing a 75% discount from the list price of a 10mL vial of NovoLog, and for the five-pen box of NovoLog FlexPen, Walmart is offering an 85%...
Amid the hubbub of the Texas House Democrats’ flight to Washington, D.C. to avoid voting on election protection reforms during the special session, many Texans are wondering why electric reliability didn’t make the special session agenda. After all, isn’t this a critical issue, especially as summer continues to heat up? But Gov. Greg Abbott’s recent...
Democrats in the Texas House of Representatives just flew maskless in a private jet with a case of beer to Washington, D.C. Normally, this would just be a fundraising trip to see powerful special interests in the nation’s capital. But this flight out of Austin had a different purpose – a quorum-busting walkout to prevent a vote...
It’s refreshing to hear President Joe Biden call for more competition in health care. “Too often,” the President noted recently, “the government has actually made it harder for new companies to break in and compete.” Let’s see if his actions match his words. For too long, people have mistakenly believed that the American health care system...