Economist Frederick Thayer has studied the history of our balanced-budget crusades and has come up with some depressing statistics. We have had six major depressions in our history (1819, 1837, 1857, 1873, 1893 and 1929); all six of them followed sustained periods of reducing the national debt. We have had almost chronic deficits since the 1930s, and there has been no depression since then - the longest crash-free period in our history.
Molly IvinsThe recent death of Gene McCarthy reminded me of a lesson I spent a long, long time unlearning, so now I have to re-learn it. It's about political courage and heroes, and when a country is desperate for leadership. There are times when regular politics will not do, and this is one of those times.
Molly IvinsYou could probably prove, by judicious use of logarithms and congruent triangles, that real life is a lot more like soap opera than most people will admit.
Molly Ivins