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 IvinsI know: "Guns Don't Kill People." But I suspect that they have something to do with it. If you point your finger at someone and say, "Bang, bang, you're dead," not much actually happens.
Molly Ivinsthe pyramids were built for pharaohs on the happy theory that they could take their stuff with them. Versailles was built for kings on the theory that they should live surrounded by the finest stuff. The Mall of America is built on the premise that we should all be able to afford this stuff. It may be a shallow culture, but it's by-God democratic. Sneer if you dare; this is something new in world history.
Molly Ivins