Budget Cuts Don't Bring Prosperity

If the opponents of deep federal cuts, starting with President Obama, are trying to decide how hard to fight, they may want to err on the side of toughness. Both logic and history make this case.

The austerity crowd argues that government cuts will lead to more activity by the private sector. How could that be? The main way would be if the government were using so many resources that it was driving up their price and making it harder for companies to use them. In the early 1990s, for instance, government borrowing was pushing up interest rates. When the deficit began to fall, interest rates did too. Projects that had not previously been profitable for companies suddenly began to make sense. The resulting economic boom brought in more tax revenue and further reduced the deficit. But this virtuous cycle can’t happen today.

NYTimes exposé reveals how Facebook handled scandals

Delay, deny and deflect were the strategies Facebook has used to navigate scandals it's faced in recent years, according to the New York Times.

(Photo by Chip Somodevilla/Getty Images)
Politics & Current Affairs
  • The exhaustive report is based on interviews with more than 50 people with ties to the company.
  • It outlines how senior executives misled the public and lawmakers in regards to what it had discovered about privacy breaches and Russian interference in U.S. politics.
  • On Thursday, Facebook cut ties with one of the companies, Definers Public Relations, listed in the report.
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Russian reporters discover 101 'tortured' whales jammed in offshore pens

Protected animals are feared to be headed for the black market.

(VL.ru)
Politics & Current Affairs
  • Russian news network discovers 101 black-market whales.
  • Orcas and belugas are seen crammed into tiny pens.
  • Marine parks continue to create a high-price demand for illegal captures.
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What would happen if America defaulted on its debt?

Sure we know it would be bad, but what do all of these scary numbers really mean?

Politics & Current Affairs
  • At the press time, the value was $21.7 trillion dollars.
  • Lots of people know that a default would be bad, but not everybody seems to get how horrible it would be.
  • While the risk is low, knowing what would happen if a default did occur is important information for all voters.
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