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Federal Reserve Helps Finance Spending And Wars With Hidden Inflation Tax

The President and his friends in Congress are free to spend literally trillions of dollars on military ventures and pork barrel projects, and, furthermore, the President doesn’t even have to ask Congress for income tax hikes to fund his military crusades. The President and Congress have allies that are truly indispensable: the Board of Governors of the Federal Reserve System. It is the “Fed” that helps to finance this spending, using the hidden tax-increase of inflation. Read more

CHICAGO—The president of Illinois’ largest taxpayer group charged that the huge salaries received by teachers of High School Dist. 211, the state’s largest high school district, show that salaries of public school teachers are out of control and bear no relationship to the value of teachers’ contributions to society. He further criticized the Dist. 211 School Board for caving in to the teachers in order to avoid a threatened strike. Read more