Obamacare has just used a definitional trick to make health insurance unattainable for millions of Americans. The new healthcare law will provide tax credits to individuals who can’t afford insurance, but on Wednesday the IRS released a  definition of “affordable” that will leave many families in the lurch. The NYT has the story: In 2012, according […]

American colleges may be going broke faster than we thought. According to a recent New York Times report, investment returns on university endowments fell by 0.3 percent last year. This could be the beginning of a major funding crisis at many universities. “The long-term goal of most endowments is to exist in perpetuity and grow with […]

Despite stiff resistance from the U.S., Pakistan has decided to build a controversial pipeline to Iran to import natural gas, according to a Pakistani diplomat interviewed by the Financial Times: “A decision has been made that we can’t delay this project for any longer. This is Pakistan’s essential lifeline. We are going ahead with this […]

Los Angeles Archbishop José Gomez has stripped both Cardinal Roger Mahony and his top aide Thomas Curry of their public and administrative responsibilities. The WSJ reports on this long-overdue act of leadership from a senior Catholic official: Cardinal Mahony was a well-known figure in Los Angeles who had led the diocese as archbishop from 1985 until his retirement in […]

We’ve heard over and over again that America is headed for a demographic disaster, with millions of baby boomers about to retire before the younger generation is ready to pay for the generous retirement services they have been promised.This is still a serious problem, but it may not come as quickly as many fear. Sixty-two percent […]

When you hear “competition,” “privatization,” and “individual responsibility,” you probably don’t think “Scandinavia.” That’s because conservatives use the region as a punching bag, while liberals hold it up as a model for social democracy. Everyone’s got it wrong.In 1991 Sweden suffered a familiar financial crisis: A credit squeeze, housing bubble, and heavy regulations begat an […]

Driven out of some countries, jihadis are setting up shop in new ones, the FT reports: Regional security and intelligence sources in east Africa say that, as they have come under pressure from a UN-led African force, hundreds of foreign fighters with Somali militant group al-Shabaab have headed north into Yemen and south to Kenya—where […]

Is Obama selling cushy ambassadorships to the highest bidder? That’s the implication of a study discussed in the New York Times, which estimates the price of various ambassadorships in campaign donations. Given that about 30 percent of ambassador posts are held by the President’s political allies rather than career diplomats, the question is worth asking.The […]

On Wednesday TransUnion LLC released an alarming report confirming one of our greatest fears: one-third of all student loans are going to subprime borrowers, and many of these loans are beginning to go bad.The WSJ reports: The Chicago-based credit bureau found that 33% of the almost $900 billion in outstanding student loans was held by subprime, or […]

When Obamacare passed in 2010, it did so with substantial union support. But now that unions are learning what’s actually in the law, voter’s remorse is setting in. The WSJ has the story: Union leaders say many of the law’s requirements will drive up the costs for their health-care plans and make unionized workers less […]