If I were a Republican Party leader, and I didn't care a whit about the welfare of the United States (and no, those two descriptors are not synonymous), I'd be feeling pretty good right now. My party will almost certainly pick up a lot of seats in Congress come November, which is the normal mid-term pattern after a big swing the other way, and this shift will make it even easier for the GOP to obstruct future Obama initiatives. More importantly, I'd be increasingly confident about regaining the White House in 2012 too.

Nearly a century and half since the United States last divided, a new "irrepressible conflict" is brewing between the states. It revolves around the expansion of federal power at the expense of state and local prerogatives. It also reflects a growing economic divide, arguably more important than the much discussed ideological one, between very different regional economies.

I want to thank all of the people in this room for making Cato and its work possible. I also want to thank a few million more people who, in recent weeks, have toiled to demonstrate in a timely manner why Cato is necessary. I refer, of course, to the people of Greece.

Some say that the United States is incurring too much debt, more than $1 trillion in the past fiscal year.

Others say that the worst recession since World War II is no time to cut spending or raise taxes.

They're both right.

Happily, there is a third way to slow the growth of debt without curtailing federal economic stimulus: sell assets.

WASHINGTON — An epic fight is brewing over what Congress and President Obama should do about the expiring Bush tax cuts, with such substantial economic and political consequences that it could shape the fall elections and fiscal policy for years to come.
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Democratic leaders, including Mr. Obama, say they are intent on letting the tax cuts for the wealthy expire as scheduled at the end of this year. But they have pledged to continue the lower tax rates for individuals earning less than $200,000 and families earning less than $250,000 — what Democrats call the middle class.

It is now conventional wisdom that the Obama administration and congressional Democrats haven’t been able to sell the people on the merits of their economic program. Even so, the results of the most recent Pew Research Center survey are startling.

I'm confused about immigration.

We libertarians believe in free trade. That includes trade in labor, too. New people bring us not just labor, but also good new ideas. Open immigration during America's first hundred years helped make America rich.

"Trust"--confidence in the honesty, reliability and fairness of people and things--is essential to democracy, a free market economy and the financial system. The breach of trust in recent years by our government and major financial institutions has been enormously damaging on many levels.

The hour is late, but there is still a sliver of time to pass a serious energy bill out of this Congress. To do so, though, would require President Obama to rustle up votes with a passion that he has failed to exhibit up to now, and, more importantly, it would require at least seven Republican senators to put the national interest above party and politics. Yes, I know that is all unlikely. You can laugh now.

Everyone agrees the American job picture is a disaster. Unemployment estimates from June stretch from the official 9.5% to 16.5%  to a sickening 22% by the most inclusive definition.

Economists, politicians and pundits debate the reasons. You’re familiar with the arguments.