By a margin of 45% to 36%, the American people want to cancel the $787 billion stimulus package, reports pollster Rasmussen Reports. Economist Lee Ohanian, a professor at UCLA, explains the failure of the stimulus package in “The $787 Billion Mistake.” Economist Kevin Hasset describes how legislation backed by Obama would wipe out more jobs in “Obama Tells American Businesses to Drop Dead.” Economist Arthur Laffer explains today how we face massive tax increases and potentially massive inflation as a result of current government policy.

Unemployment…

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It’s not just AIG, being bailed out for $170 billion, that’s using taxpayer money to give fat bonuses to its employees. The same thing is happening at Fannie Mae and Freddie Mac, the fraud-ridden “Government-Sponsored Enterprises” that helped spawn the mortgage crisis, and now are being bailed out at a cost of over $200 billion.

Before publicly blasting million-dollar bonuses at AIG, the Obama administration privately signed off on those very bonuses, and included language in the economy-shrinking “stimulus” bill to protect those bonuses. (AIG gave over…

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From the blog of the great New Jersey-based independent radio station WFMU comes “Little Paper Airplanes,” a music video by the experimental rock band the Sursiks, that should put a smile on the faces of Murray Rothbard devotees — though it is a tad worrying to see monetary disaster find artistic expression. (Notice: strong language.)

(Thanks to Marc Scribner for the WFMU link.)

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Here are excerpts from my story in today’s American Spectator Online on how the $700 billion bailout could actually make things worse — in terms of resulting inflation and even a further contraction in credit due to the government purchases’ interaction with the mark-to-market accounting rules. To read the piece in its entirety, click here.

“”The government has to do something to keep markets from falling and the economy from getting worse.” How many times have you heard that mantra this…

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