The dollar hasn't traded at 95 since late 2003.
Much more of this dollar strength is due to the continued improving fiscal condition of the United States since 2012 than people realize.
Tax revenues are way up under the made-permanent Bush tax cuts and the made-permanent Alternative Minimum Tax fix, both of which heralded in 2013. Federal receipts are up a whopping combined 36% in 2013 and 2014 over 2012.
And continued Republican control of the purse in Congress has meant almost zero expansion of federal spending. Federal outlays are up a paltry combined less than 1% in 2013 and 2014 over 2012.
The federal government is up a net $845.5 billion in the last two years. That's huge.
The dollar is not simply a fiction which competes with other fictions in the global marketplace, but a symbol of the determination of the American people to play by the rules and pay their bills. It is not a coincidence that this determination lately expressed politically paved the way for falling commodity prices generally, and oil in particular. It is uncertainty which breeds fear-trades.
The federal government is up a net $845.5 billion in the last two years. That's huge.
The dollar is not simply a fiction which competes with other fictions in the global marketplace, but a symbol of the determination of the American people to play by the rules and pay their bills. It is not a coincidence that this determination lately expressed politically paved the way for falling commodity prices generally, and oil in particular. It is uncertainty which breeds fear-trades.
Speaker John Boehner doesn't get the credit he deserves for achieving under the Democrat President Barack Obama what Republicans before him could only dream about.
And if you want to know what's wrong with Republicans, that's it.
And if you want to know what's wrong with Republicans, that's it.
