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‘When will markets react to debt?’ Is the wrong question

Is the federal government’s history of enormous deficits proof that it can keep up the borrowing? Some people think so, and legislators sure act that way. Federal debt held by the public now equals the size of the annual economy — and is growing. Yet investors continue buying Treasury securities. No government bond sale has really failed, no one has suddenly refused to finance Washington’s spending, and no unmistakable moment has forced Congress to change course. That leads some people I cross paths with in academic life to conclude that despite decades of dire warnings, ...

The tyranny of one man’s opinion

Thomas Cromwell was the Lord Chancellor of England for much of the reign of King Henry VIII. He engineered the convictions and executions of many whom Henry wanted out of the way, including his two predecessors in office — one of whom was St. Thomas More — and even the king’s second wife, Queen Anne. When Cromwell’s son Gregory, who became sickened as he watched his father devolving from counselor to monster, learned that an executioner for the queen had been sent for from France a week before her trial, he asked his father what the purpose of her trial was if the king had ...

Dear Annie: A Cold War over the thermostat

Dear Annie: I’m 28 and live in a two-bedroom apartment in Washington state with my friend “Jess.” She’s an excellent roommate — clean, considerate, quiet. I know I’m lucky. But there’s one thing driving me crazy: the thermostat. She works from home and keeps the heat cranked to nearly 80 degrees! When I get home from the office, I start sweating before I’ve even taken my shoes off. I run hot and prefer the apartment on the chillier side, especially at night. Jess and I get along on almost everything else, but this has become a daily annoyance. We haven’t talked about ...

How to report that a patient’s license needs to be revoked

DEAR DR. ROACH: A former neighbor who’s experiencing a gradual cognitive decline from dementia recently received a letter from our state’s DMV saying that her driver’s license was being revoked because of a letter she received from her neurologist. She steadfastly maintains that she’s fine and there’s nothing wrong with her, although those of us who know her are very aware of her diminished capacities. Fortunately, she reluctantly moved into assisted living a few months ago and will be able to get rides provided by the facility to doctor’s appointments, for shopping, ...

Three easy ways to reduce pain at the pump

I’ve always argued that the easiest way for families to gauge the health of the economy is to check the daily gas price. Drivers see the 50-foot-high signs in every community in America. They stare us right in the face. I call it the affordability index. In recent weeks, gas prices have hit $4.50 a gallon nationally, and truckers are paying well over $6 a gallon. That’s a bad look with a month to go before midterm elections across the country. These high prices have put consumers in a bad mood. It’s worth mentioning that the average gas price while Donald Trump has been ...

Let the word go forth: The Trump about Trump

Donald Trump is not just a bad president. “King” is too good a word for the likes of him. What Trump truly is shall be written in the end. Andrew Johnson was the worst president we’ve had until now. A Southerner who was Abraham Lincoln’s vice president, he took office in 1865 when the Civil War president was murdered by a Confederate sympathizer. Lincoln’s worst mistake, Johnson restored Confederate leaders and generals back to power and undermined the meaning of the war. For that, the hated, bitter and racist Johnson was impeached and almost removed from office in ...