Category Archives: Economy

Student Loan Defaults Increase

Household debt surpassed its 2008 recession peak in the first quarter of 2017, according to a recent report from the Federal Reserve Bank of New York. At $12.73 trillion, household debt stood at $149 billion or 1.2 percent above the … Continue reading

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When Politicians Hurt Low Income Workers

As part of what The Washington Post called a “leftward lurch” during the Virginia gubernatorial primary, Lt. Governor Ralph Northam signed onto a number of liberal policy initiatives aimed at shoring up his left flank – among them, increasing the … Continue reading

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Community Banks: Help is on the Way

In the wake of the financial meltdown in 2008, Congress passed and President Obama signed the Dodd-Frank law which was intended to regulate big banks and address the causes of the financial crisis. As so often happens with legislation, despite … Continue reading

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Is Capitalism Good for the Environment?

It has been said that capitalism works for a very simple reason – people can be counted on to do what is in their own interest. That has been the basis of human interaction since the beginning of time. One villager would catch fish and sell them to others, which helped the fisherman succeed, but also helped the others, who needed fish. In fact, the only way to make money in a free market is to supply others with something they need, and are willing to pay for. Selfishness does not profit unless it also helps others. Continue reading

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Understanding the Federal Budget

The president released his budget submission to Congress and there will be plenty of heat surrounding it but not nearly enough light. There will be loud talking about budget cuts that hurt the poor, the sick, the elderly, children, and … Continue reading

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