Quote of the Day
The time given to athletic contests and the injuries incurred on the playing field are part of the price which the English-speaking race has paid for being world conquerors.
Henry Cabot Lodge
It is imperative that when thousands of selfless volunteers respond to those who have incurred the wrath of a natural disaster that legal liability need not be hanging over their heads.
Yes, it is long past time we get serious about tackling the nation's ever-growing deficits. But the average American family drawn into serious debt cannot just threaten to stiff its creditors. It must cut its spending in the future, but also take responsibility for the debt incurred in the past.
If you ask the question of Americans, should we pay our bills? One hundred percent would say yes. There's a significant misunderstanding on the debt ceiling. People think it's authorizing new spending. The debt ceiling doesn't authorize new spending; it allows us to pay obligations already incurred.
No expense has been incurred but what has been approved of and provided for by Parliament.
What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental property, office building, condo - does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price.
The National Flood Insurance Program is a valuable tool in addressing the losses incurred throughout this country due to floods. It assures that businesses and families have access to affordable flood insurance that would not be available on the open market.
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