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Tag Archives: debt

The Simple and Predictable Story of Fiscal Bankruptcy in Cyprus

The Simple and Predictable Story of Fiscal Bankruptcy in Cyprus

With all the fiscal troubles in Greece, Spain, Ireland, Portugal, and Italy, there’s not much attention being paid to Cyprus. But the Mediterranean island nation is a good case study… Read more »

Observations on the European Farce

Observations on the European Farce

Spain’s received a bailout, Greece is having another election tomorrow, and the European political elite is pushing for more centralization. In other words, business as usual in the continent where… Read more »

Will More Federal Debt Improve the U.S. Government’s Creditworthiness?

Will More Federal Debt Improve the U.S. Government’s Creditworthiness?

Writing in yesterday’s Washington Post, former Obama economist Larry Summers put forth the strange hypothesis that more red ink would improve the federal government’s long-run fiscal position. This sounds like… Read more »

Measuring the Federal Government’s Spending Problem

Measuring 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… Read more »

Switzerland’s “Debt Brake” Is a Role Model for Spending Control and Fiscal Restraint

Switzerland’s “Debt Brake” Is a Role Model for Spending Control and Fiscal Restraint

I’ve argued, ad nauseam, that the single most important goal of fiscal policy is (or should be) to make sure the private sector grows faster than the government. This “golden… Read more »

New Budget from Republican Study Committee Reduces Burden of Government to Where It Was When Bill Clinton Left Office

New Budget from Republican Study Committee Reduces Burden of Government to Where It Was When Bill Clinton Left Office

A couple of weeks ago, I offered some guarded praise for Paul Ryan’s budget, pointing out that it satisfies the most important requirement of fiscal policy by restraining spending –… Read more »

By Restraining Burden of Federal Spending, Senator Paul Shows How It’s Simple to Balance the Budget

By Restraining Burden of Federal Spending, Senator Paul Shows How It’s Simple to Balance the Budget

Last year, while lounging on the beach in the Caribbean…oops, I mean while doing off-site research, I developed the first iteration of a rule to describe how fiscal policy should… Read more »

According to Obama’s Budget, Burden of Federal Spending Will Be $2 Trillion Higher in 10 Years

According to Obama’s Budget, Burden of Federal Spending Will Be $2 Trillion Higher in 10 Years

President Obama’s budget proposal was unveiled today, generating all sorts of conflicting statements from both parties. Some of the assertions wrongly focus on red ink rather than the size of… Read more »

Europe’s Fiscal Crisis Is Caused by too Much Government, and Deficits and Debt Are Merely Symptoms of that Problem

Europe’s Fiscal Crisis Is Caused by too Much Government, and Deficits and Debt Are Merely Symptoms of that Problem

I don’t expect a  good outcome to the European fiscal crisis, largely because nobody seems to understand that the real problem is excessive government spending. The economic illiterates in the… Read more »

Illinois Downgrade Provides More Evidence that Higher Taxes Make Fiscal Problems Worse, not Better

Illinois Downgrade Provides More Evidence that Higher Taxes Make Fiscal Problems Worse, not Better

I don’t blame the Democrats for wanting to seduce Republicans into a tax-increase trap. Indeed, I completely understand why some Democrats said their top political goal was getting the GOP… Read more »