By Valugi - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=19523830

The Government Spending Crisis: Part I

Over the course of many years, U.S. citizens have sat idly by and watched as the US government tries to spend its way out of an increasing portion of our nation’s problems. As our spending increases along with our national debt, we will eventually have to bring ourselves to ask the same two questions that we all ask ourselves when we find we’ve made a mistake: What went wrong and how do we fix it?

How Useful Are Tariffs?

In an increasingly globalized market, some governments are becoming much more concerned with three of the main consequences of expanding international trade. The first is that domestic companies are forced to grapple with not only domestic competitors, but also foreign competitors. Second is the growing dependence on foreign firms for important goods. Finally, the existence of trade deficits (higher imports than exports) which are often seen as “unfair”. In order to address these concerns, a growing number of countries are implementing tariffs on their imports, taxing certain classes of goods originating from specified countries.

Should Credit Card Interest Rates Be Capped at 15%?

Last week, Bernie Sanders and Alexandria Ocasio-Cortez released a new piece of legislation that would cap credit card interest rates at 15% called the Loan Shark Prevention Act. The two argue that this kind of intervention in the markets is necessary in order to protect consumers from the “greed” of the credit card and banking industries. Sanders and Ocasio-Cortez both believe that banks and credit card companies are taking advantage of the poor by charging “extortion level interest rates.