Ways & Means Committee Republicans Achieve the Dubious Honor of Winning the...
I confess to being monotonous and repetitive when it comes to explaining that America’s fiscal problem is too much spending, and that debt and deficits are simply symptoms of that underlying problem of...
View ArticleMeasuring the Federal Government’s Spending Problem
I’ve complained endlessly that America’s fiscal problem is too much spending, and that deficits and debt are best understood as symptoms of that underlying disease. So I’m obviously a big fan of this...
View ArticleAustralia vs. the United States: Two Charts that Tell You Everything You Need...
There are two serious problems with America’s Social Security system. Almost everyone knows about the first problem, which is that the system is bankrupt, with huge unfunded liabilities of about $30...
View ArticleSome French Economic Humor
Having written several times about crazy French statism, you will understand why I like this cartoon. Though, to be fair, France hasn’t gotten to the point where it’s being bailed out (it’s probably...
View ArticleAnother “Government Shutdown” Fight in Washington’s Future
One of the big stories from Washington is that there may be another fight over the debt limit, which could mean…gasp, hide the women and children…gridlock, downgrades, government shutdown, default, and...
View ArticleEurope’s Crisis Is Because of Too Much Government, Not the Euro Currency
The mess in Europe has been rather frustrating, largely because almost everybody is on the wrong side. Some folks say they want “austerity,” but that’s largely a code word for higher taxes. They’re...
View ArticleIs Sicily the California of Italy, or Is California the Sicily of the United...
Considering the spectacular incompetence of the Italian government, I’m not surprised that the Italian people take extraordinary steps to protect their income from the tax police. But I have a hard...
View ArticlePresident Obama Is MIA on Fiscal Policy
I feel like a pendulum this election season. Something will happen that makes me want to eviscerate Obama’s statist policies and I’ll write a foaming-at-the-mouth post warning that the President is...
View ArticleIs America in Worse Fiscal Shape than Greece, France, and Italy?
Back in 2010, I posted a fascinating map from the Economist website, showing debt burdens (as a share of GDP) for nations around the world. This data showed lots of red ink, with Western Europe...
View ArticleIt’s Simple to Balance the Budget with Modest Spending Restraint
Now that new numbers have been released by the Congressional Budget Office, it’s time once again for me to show how easy it is to balance the budget with modest spending restraint (though please...
View ArticleSpending Cuts and Tax Cuts Should Be an All-of-the-Above Option, Not an...
I’m in Slovenia where I just finished indoctrinating educating a bunch of students on the importance of Mitchell’s Golden Rule as a means of restraining the burden of government spending. And I...
View ArticleDoes the $16 Trillion Debt Matter? A Remedial Lesson in Public Finance...
Everyone has a cross to bear in life, some sort of burden or obligation, often self-imposed. For some inexplicable reason, I’ve decided that one of my responsibilities is to educate a backwards and...
View ArticleThe European Central Bank’s Risky Bailout Scheme for Europe’s Welfare States
I’ve been worried for quite some time that the European Central Bank was losing its independence, thus undermining the long-run prospects of the euro. Well, yesterday’s announcement that the ECB would...
View ArticleHere’s What’s Wrong with the Simpson-Bowles Deficit-Reduction Plan
Many people want to believe in Unicorns, the Loch Ness Monster, and Bigfoot. I think those people are rational and reasonable compared to the folks in Washington that spend their days dreaming of...
View ArticleSome Mildly Risque Debt Humor
If you want some serious analysis about government spending and red ink, watch my video (part of my series on the economics of government spending). But if you want to enjoy some laughs as the...
View ArticleEven Leftists Won’t Defend Obama’s Make-Believe $4 Trillion “Grand Bargain”...
You have to give President Obama credit for chutzpah. He pushed through a faux stimulus in his first year and Obamacare in his second year, both of which significantly increased the burden of...
View ArticleFor the Sake of Intellectual Integrity, Republicans Should Not Cite the CBO...
I’ve commented before how the fiscal fight in Europe is a no-win contest between advocates of Keynesian deficit spending (the so-called “growth” camp, if you can believe that) and proponents of higher...
View ArticleThe Comedy Version of Greece v Germany
It’s not easy to find some humor in the European fiscal crisis, though this Hitler parody video surely is a classic. We now have a new video to enjoy. There are some naughty words, so be forewarned....
View ArticleObama’s Fiscal Plan: Real Tax Hikes and Fake Spending Cuts
If done well, an image can say a thousand words. Here are some of my favorites. An amazing chart put together by a Cato colleague showing that massive increases in spending and staff have had no...
View ArticleExplaining in the New York Post that the Fiscal Cliff Is Just a Speed Bump on...
I’m very concerned about both the fiscal cliff and its possible replacements. It will be bad news if we get an automatic tax hike on January 1, and it will be bad news if that tax increase is replaced...
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