by Dan Mitchell | Oct 17, 2018 | Big Government, Blogs, Government Spending
The Congressional Budget Office just released a Monthly Budget Review showing a $782 billion deficit for the 2018 fiscal year. My recommendation is to mostly ignore data on red ink. Yes, it is possible that a country can get in trouble because of deficits and debt,...
by Dan Mitchell | Oct 16, 2018 | Blogs, Economics
When Trump imposes protectionist trade barriers, he doesn’t realize that the harm imposed on other nations is matched by damage to the U.S. economy. As I warn in this interview, something similar could happen if the federal government convinces other nations to reject...
by Dan Mitchell | Oct 15, 2018 | Big Government, Blogs, Economics
Politicians can interfere with the laws of supply and demand (and they do, with distressing regularity), but they can’t repeal them. The minimum wage issue is a tragic example. If lawmakers pass a law mandating wages of $10 per hour, that is going to have a very bad...
by Dan Mitchell | Oct 14, 2018 | Blogs, Economics
I periodically explain that you generally don’t get a recession by hiking taxes, adding red tape, or increasing the burden of government spending. Those policies are misguided, to be sure, but they mostly erode the economy’s long-run potential growth. If you want to...
by Dan Mitchell | Oct 13, 2018 | Big Government, Blogs, Welfare and Entitlements
Imagine being a poor person and getting to choose your country. Which one would you select? The answer probably depends on your goals in life. If you want to emulate “Lazy Robert” and be a moocher, you could pick Denmark. You’ll surely get more than enough money to...
