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While in high school, I was standing at a bus stop next to a gas station. A kid tossed a candy wrapper on the station lot. Somebody yelled, "Hey, pick that up." The kid, with a straight face, defended himself. He said, "I just created a job." Someone would be hired, he explained, to pick up the trash, and this would be good for the economy.
Don't laugh. The kid probably works for the Obama administration.
Congress is now considering yet another "stimulus" package. But did the administration's previous one work? Of the $787 billion stimulus package, President Obama said it would "save...
Obama and Economics: Intellectually Clueless
44) According to economists Thomas Piketty and Emmanuel Saez, two-thirds of income increases in the U.S. between 2002 and 2007 went to the wealthiest 1% of all Americans
45) Half of America has 2.5% of the wealth
46) If you only make the minimum payment each and every time, a $6,000 credit card bill can end up costing you over $30,000 (depending on the interest rate)
47) According to a new report based on U.S. Census Bureau data, only 26 percent of American teens between the ages of 16 and 19 had jobs in late 2009 which represents a record low since statistics began to be kept back in...