In the hierarchy of Washington, D. C. politics, one of the most powerful positions in the House of Representatives is the whip. Next to Speaker of the House for the
MAD World; SOTU Reset; Quote of the Week | RealClearPolitics realclearpolitics.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from realclearpolitics.com Daily Mail and Mail on Sunday newspapers.
1885 The Atchison, Topeka, and Santa Fe Railroad reaches San Bernardino. [Source:
California by Kevin Starr.]
1886 The completion of the Santa Fe Railroad leads to a price war, lowering the cost of a rail trip from the Mid West to the West Coast to as low as $1 per person.
1887 The Atchison, Topeka, and Santa Fe Railroad reaches Los Angeles. [Source:
California by Kevin Starr.]Occidental College and Pomona College opened. [Source:
California by Kevin Starr.]
California by Kevin Starr.]
Lux v. Haggin, modifies the doctrine of riparian rites within the State of California. [Source:
California by Kevin Starr.]
1889 Orange County is established by an act of the California State Legislature from a southeastern section of Los Angeles County.
Foreign Debt Forgiveness Would Cost Americans Very Little
It is easy to assume that sovereign debt forgiveness involves a collective transfer of wealth from the creditor country to the debt-owing country, but this is only true under specific - and unrealistic - conditions. In today’s environment, sovereign debt forgiveness mainly represents a transfer within the creditor country. It benefits farmers and manufacturers in the creditor country at the expense of the country’s nonproductive savers.
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In light of the ongoing coronavirus pandemic and the resulting economic fallout, it is useful to consider what Washington’s policy stance should be toward debt forgiveness. Argentina and Ecuador each recently completed a long, drawn-out restructuring of their external debts, several more countries in Latin America and Africa urgently require debt relief, and government ministers of many poor