Pretty Ricky singer Baby Blue was sentenced to 20 months in prison after pleading guilty to one count of Conspiracy to Commit Wire Fraud last December.
Smart economic policymaking invariably requires trading off some pain today for greater future gains.
However, this is a difficult proposition politically, especially in democracies. It is always easier for elected leaders to indulge their constituents immediately, on the hope that the bill will not arrive while they are still in office.
Moreover, those who bear the pain caused by a policy are not necessarily those who would gain from it.
That is why today’s more advanced economies created mechanisms that allow them to make hard choices when necessary. Chief among these are independent central banks and mandated limits on budget
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What would you do for a Lamborghini Urus? If it involves fraudulently acquiring money from the state, you could be looking at up to 10 years in the can. A Texas resident went the whole nine yards and bought a Lamborghini, among other valuables with $1.6 million received in PPP loans.