To allow for more flexible funding of World War I, the U.S. government enacted its first debt ceiling in 1917. Economist James Galbraith takes us through the history of the normally uncontroversial procedure. Galbraith is a professor of government at the University of Texas at Austin.
American credit ratings agencies recently downgraded Greece, Portugal and Ireland’s debt to junk status, making it harder for the EU to avoid an economic meltdown. In Europe, there’s growing discontent over these agencies’ unchecked power.
Crime rates dropped across the U.S. for more than a decade and continue to do so--Chicago’s part of the trend according to information released by the Chicago Police Department. But it may not feel that way given the steady stream of news headlines on violence. So are the numbers right?
As the temperatures rise, so does crime--it's a somewhat predictable summer story. Mayor Emanuel responded by putting more cops on the streets; the move is supported by Chicago Police Superintendent Garry McCarthy but it may not be the answer for all Chicagoans.
Indiana Attorney General Greg Zoeller said he won’t fight to lift a temporary injunction against the state’s tough new immigration law.Senate Enrolled Act 590 was to have gone in to affect July 1, but U.S.
It is still eight months away from Indiana’s Republican primary but the attack ads are already starting — at least in one unexpected race.The Washington, D.C.–based conservative group Club for Growth is targeting the iconic U.S.