What happens when you spend money you don’t have? Everyone knows the answer to that question. But what happens when the government does it on an unprecedented scale? Sooner or later, all debts have to be repaid. The question is, who’s going to foot the bill? Economist Stephen Moore has the answer. 

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The Bankrupting of America

If you ask Americans to name their country’s form of government, most of them will say they live in a democracy. However, the real answer is more complicated (and unexpected) than that. Robert George, Professor of Jurisprudence at Princeton University, explains.

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The Difference Between a Democracy and a Republic