Over the next year, we will probably see much controversy over the implementation of Obamacare. Health insurance is something that almost every adult has some acquaintance with, and there seem to be glitches aplenty in the legislation, much delay in issuing regulations and some possible changes resulting from litigation.
Have you ever wondered how much we as taxpayers actually owe because of commitments politicians have made on our behalf? Turns out, the answer is not as simple as you might think.
The Clinton line, an elaboration of Obama excuse No. 37 for the dismal economy (after the Arab Spring, ATMs, the euro crisis and tomato blight in Mrs. Obama's White House garden), goes like this: The economy was so damaged by George W. Bush-era policies that "no president" could have been expected to do better than the record-high poverty, staggering unemployment, shrinking workforce participation, anemic growth and gargantuan debt over which Barack Obama has presided.
They walk where no mortals dare. They face challenges that melt the resolve of ordinary people. They fearlessly stride the pathways of the world, towering over the feeble masses. Commoners worship them as gods, without whom their lives would dissipate into madness and chaos. Who are these giants that rule the world and whose wisdom is essential to our daily existence? They are economists.