For over a decade, now, the American economy has been on an economic rollercoaster, of an economic boom between 2003 and 2008, followed by a severe economic downturn, and with a historically slow and weak recovery starting in 2009 up to the present.
Financial markets in the United States and around the world are all waiting with “bated breath” for when the Federal Reserve modifies its “easy money” policy and starts to raise interest rates. No one, however, asks a simple question: Why is the American central bank in the interest rate setting business?
Throw enough mud at the wall, and some of it will stick. That seems to be the hope behind the several legal challenges brought against education tax credit scholarship programs. In some cases, choice opponents use the Blaine Amendment as an excuse to extinguish any hint of education freedom. In other cases, they use technicalities, such as a suit saying the statute violates a law requiring each piece of legislation concern only a single subject.
A judge in Sangamon County Circuit Court has blocked a modest reform of Illinois’ pension system for state workers and retirees outside Chicago from taking effect June 1, giving Gov. Pat “Four Counties” Quinn the excuse he’s probably been looking for to block reforms for two of Chicago’s pension plans. (I’ll explain “Four Counties” in a moment.)