Last month, the Drug Enforcement Administration abruptly revoked the narcotics license held by the distributor Cardinal Health, preventing that firm from shipping prescription pain drugs to thousands of Florida pharmacies and hospitals. It's the latest tactic in the DEA's struggle to stem the illicit use of prescription painkillers like OxyContin and Vicodin.

The current economic environment of low—virtually zero—interest rates has hit savers hard, but abruptly raising interest rates could harm economic growth and the housing market. Until the economy stabilizes and the Fed begins raising interest rates again, savers have few options: they can adjust their lifestyles, dip into their savings, or take on riskier investments such as gold and stocks.

Will we recover, unbridle ourselves of debt, innovate, pay for our national security? Or, is China fated to become number one, leaving us to live in a Chinese world?

The unpopularity of the Obama Democrats' policies seem sure to hurt the party in this year's elections and upcoming redistricting seems likely to extend the pain for several more election cycles.

AEI's John Makin examines the consequences of German deflationary policies and Greece's probable exit from the eurozone in the latest Economic Outlook.

In his April Economic Outlook, American Enterprise Institute (AEI) economist John Makin assesses the risks the world faces as a result of China’s slowing economy. With the coming transition in Chinese leadership, it is unlikely that the world's second largest economy will alter its policies to stimulate growth. As a result, the whole world may feel China's pain.

Twelve years into the 21st century, the dominant financial and economic fact is that we are still living in the wake of athe vast housing and mortgage bubble, which peaked in mid-2006, almost six years ago.  

The incoming Spanish prime minister will have to deal with theincreasing problems in the Spanish housing market.