By David Stockman
David Stockman's Contra Corner
November 15, 2025
The more the nation's Fiscal Doomsday Machine cranks out ever higher spending and fatally rising public debt, the more we realize that the 16th Amendment was a monumental error.
In the end its ratification in 1913 may well turn out to be the inflection point at which American democracy and capitalist prosperity took a fatal turn toward ruination.