There Is Not A Line

Politicians Will Always Spend Every Penny Of Tax Raised And Whatever Else They Can Get Away With.

In This Day And Age, We Need To Revise The Old Saying To Read, "hell Hath No Fury Like A Bureaucrat Scorned.

Italy May Well Be The Main Problem. It Has Benefited Most From The Euro By Having Been Able To Get The Euro Interest Rate Instead Of What Otherwise Would Have Been Its Own. That Would Be Much Higher Because Italy Has Been Accumulating So Much Debt. In The Past, Italy Has Inflated Away Its Debt. The Virtue Of The Euro Is That Italy Can't Do It Alone. A Tight Ecb Policy Wouldn't Permit That To Happen Again.

The Proper Role Of Government Is Exactly What John Stuart Mill Said In The Middle Of The 19th Century In "on Liberty." The Proper Role Of Government Is To Prevent Other People From Harming An Individual. Government, He Said, Never Has Any Right To Interfere With An Individual For That Individual's Own Good.

No Major Institution In The Us Has So Poor A Record Of Performance Over So Long A Period As The Federal Reserve, Yet So High A Public Reputation.