The TED spread is so low that markets must think that governments will work things out.

Bargain hunting is the only thing that can save us.

Medicare is a social insurance program that has the unfortunate characteristics to be expected from any centrally controlled provision of services. We do indeed have a system-wide problem, but if we expect to solve it we have to start with Medicare.

Never had the nation gone through a year without a death on a major air carrier or a commuter plane.

The administration's rationale for setting up a government-run resolution authority--to the extent that it is based on the idea that the interconnectedness of Lehman caused the financial crisis--is not well founded.

America faces a culture war between free enterprise and big government which will determine the country's future.

The U.S. airline industry was deregulated twenty years ago, and since then, air travel in the United States has become safer, cheaper, more reliable, and more common.