Issue 240

8 articles

The Surplus Vanished

President Bush claims that war and recession wiped out the projected federal budget surplus, but his massive tax giveaway to the wealthy deserves the bulk of the blame.

Dear Dr. Dollar:

The Federal Reserve keeps fussing with the “discount rate” and everybody thinks it’s important. This is, if I understand it right, the rate banks charge each other for overnight loans. Now presumably someone makes money on the interest that’s charged and someone loses money (or makes less) when the

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