News
CNN Money | Private student loan debt reaches $150 billion
Americans have racked up $150 billion in private student loan debt, with many graduates owing more than they can afford, according to a new report from the Consumer Financial Protection Bureau.
Washington Times | Foreclosure crisis hits older Americans hard
More than 1.5 million older Americans already have lost their homes, with millions more at risk as the national housing crisis takes its toll on those who are among the worst positioned to weather the storm, a new AARP report says.
WSJ | Doctor Pay and Social Priorities
The most recent graduating class at Harvard Business School, 925 freshly minted MBAs, was culled from an initial applicant pool of 10,368, a success rate under 10%. After two years of study for which tuition alone is approximately $100,000, they took jobs whose average compensation was $120,000 plus median signing bonuses of another $20,000. Sixty-four percent of them migrated to consulting and finance.
Bloomberg | Euro Finance Chiefs Give Final Approval to Spain Bank Rescue
Euro-area finance ministers gave final approval to as much as 100 billion euros ($122 billion) of bank aid for Spain, putting Greece back on the front line of the bloc’s crisis-fighting agenda.
CNN Money | Can Arctic oil drilling be done safely?
The Arctic's ice cap is melting, and oil companies and other industries are moving into the region to take advantage of its abundant, newly accessible resources.
Econ Comments & Analysis
Heritage Foundation | Fix Defense Sequestration—Without Tax Increases
The U.S. political leadership is facing a big moment. Two issues confront them in particular: looming cuts from sequestration and the looming tax hikes from Taxmageddon.
Washington Times | Obama’s economic policies plague poor
Last week, we were treated to one of the biggest con jobs in this political season. Vice President Joseph R. Biden took the NAACP back to Jackson, Miss., and lynchings and even said that the same Supreme Court that approved Obamacare would become racist under Mitt Romney.
Daily Caller | Obama is damaging the economy by bashing entrepreneurs
Does anybody remember, back in the depths of the recession of 1981-82, how President Ronald Reagan kept his chin up and exhorted American businesses to work hard and produce an economic recovery?
WSJ | The Regulatory Power to Destroy
'The Dark Knight Rises" hits theaters this week, and no surprise some liberals are comparing the villain Bane to . . . care to take a guess? In this comic conception of the world, corporations always play the Bane to government's Batman. Regulators may have expansive powers, but they're rarely so heroic. In fact, they're often the real bane.
Washington Times | Too late to ‘do no harm’
With the economy showing new signs of further weaknesses, Federal Reserve Chairman Ben S. Bernanke was virtually begging Congress this week to act.
Blogs
Café Hayek | Obama: right about business, wrong about government
Many people have excoriated President Obama for suggesting that entrepreneurs can’t claim credit for their success.
WSJ | Vital Signs: Existing Home Sales Dip
Sales of previously occupied homes tumbled in June, a disappointing development given recent flickers of life in the long-suffering housing market.
