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A familiar number, a far more dangerous moment

The yield on the 30-year Treasury bond has climbed back to where it stood in 2007, north of 5%, and it pushed a little higher again this week after the Federal Reserve left its own rates alone. On its face, that sounds almost reassuring, a return to some pre-crisis normal. It is nothing of the sort. The same number today carries a very different, and far heavier, meaning than it did 19 years ago. In 2007, the federal debt held by the public was roughly nine trillion dollars. Today it is about four times that. A yield is simply the price of borrowing, and paying the 2007 price on four ...

More Than a Vacation: Lessons from Hudson Valley (Continuation of Part One)

Next came Springwood, the lifelong home of President Franklin D. Roosevelt. Before this visit, I knew surprisingly little about either his home or his presidency. What I discovered was both informative and inspiring. I found myself taking more photographs of Roosevelt's quotations than of the furnishings. One quote especially caught my attention: "The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." As I walked through his presidential library and museum, another exhibit struck ...

We have a democracy, if we can keep it

"A republic, if you can keep it,” Benjamin Franklin famously responded when asked by a Philadelphia socialite what it was that he and the other Founders had wrought. Her question, and his answer, in the 1787 conversation framed the choice for the emerging new country as being between republic and monarchy. Today, in some quarters, the choice is presented differently: We’re a republic, not a democracy, goes a politically fashionable trope that happens to be both factually inaccurate and philosophically ominous. America’s 250th birthday is as good a time as any to remind ...

Evidence, not outrage, wins convictions

Now that the dust has settled on the alleged child predator video that spread across social media last week, one thing has become clear: the criminal justice system ultimately did what many feared it would not. A Lewistown man is now behind bars facing multiple felony charges, and his preliminary hearing has been continued until Aug. 7 as the case moves through the courts. That is the outcome everyone should want. If the allegations are proven in court, a dangerous individual will be held accountable. The arrest is welcome news for a community that was understandably shaken by the ...

Technological improvement for cards a step toward stewardship

State Rep. Jamie Flick, R-South Williamsport, recently brought a development to the public’s attention: The passage of legislation to use chips to encrypt the debit-style cards used by Pennsylvania’s public assistance programs. Flick notes the upgrade will make theft and fraud committed to steal from recipients’ benefits more difficult and also noted that in the past there have been thousands of instances of the use of the “card skimming” tactic to steal from these accounts. We appreciate Flick’s attention to this issue and we appreciate the efforts of the state ...

State needs to use leverage on tuition costs

Penn State, as reported in Friday’s edition of the Williamsport Sun-Gazette, is increasing tuition for residents by 2.5% and for out-of-state students by 4%. According to Spotlight PA’s article, the university is set to receive $242.1 million from the state — with the possibility of an additional $4 million from an incentive-based program. All of this in addition to the state’s financial obligations for state-system schools like Commonwealth University’s Lock Haven and Mansfield campuses and Millersville and other universities — colleges that are less autonomous from ...