Here’s the video that won the lucrative Powerline prize. Perhaps not as catchy as the entry I posted a couple of days ago, but very well done, with a proper focus on excessive government. And here’s a video just released by Cato on why the debt deal – at best – is a…
Daily Analysis
Where Are the Spending Cuts?
Considering the Democrats control the Senate and the White House, I actually think the Republican leadership did a decent job in the debt negotiations. Of course, I had low expectations, but did anybody expect miracles with Obama in the White House? As you might…
Deconstructing the Revenue Side of the Debt-Ceiling Deal: Yes, There’s a Real Threat of Higher Taxes
Politicians last night announced the framework of a deal to increase the debt limit. In addition to authorizing about $900 billion more red ink right away, it would require immediate budget cuts of more than $900 billion, though “immediate” means over 10 years and…
Just in Case You Need One More Reason Why the Department of Housing and Urban Development Should Be Abolished…
While I’ve been somewhat critical of Senator Coburn’s willingness to raise taxes, I’ve never doubted that he is a sincere and tireless fighter for smaller government. Indeed, his staff periodically share examples of government waste that boggle the mind, though I…
Basic Economics for Financial Journalists and Other Dummies
While driving home last night, I had the miserable experience of listening to a financial journalist being interviewed about the anemic growth numbers that were just released. I wasn’t unhappy because the interview was biased to the left. From what I could tell, both…
Needless Budget Drama in Congress, Time Machines, and some Debt Limit Humor
In the spirit of the budget battle, readers have to eat their peas (i.e., endure my analysis) before getting to the dessert menu of jokes from the late-night comics. The big news today is that Speaker Boehner had to cancel a vote on his “Budget Control Act” last…
Does the Boehner Plan Include a Tax Increase Trap?
In an ideal world, GOPers would hold firm and not pass any debt limit until Democrats agreed to enact something like the Ryan plan/Cut-Cap-Balance. But I’ve never thought that was a realistic strategy. When we got to the drop-dead point, Obama would have Geithner or…
You Should Support a Value-Added Tax…if You Want Bigger Government and More Debt
I testified before the House Ways & Means Committee earlier today. As always, my trip inside the belly of the beast was an interesting adventure. The tax-writing committee was holding a hearing on the value-added tax. I was on a panel with five other witnesses,…
Republicans Should Copy the Bill Clinton Approach on Federal Spending
I’ve pointed out on several occasions that the burden of federal spending fell significantly during the Clinton years. Indeed, if we did nothing other than bring federal spending back down to 18.2 percent of GDP (where it was when Clinton left office), we’d have a…
The Short-Term Problem Is Obama’s Ideological Stubborness, the Long-Term Problem Is American Decline
As a Washington policy wonk somewhat involved in the current debt-limit fight, I will confess that it is very frustrating that the White House has never produced a deficit-reduction plan. I’d much prefer a spending-restraint plan, of course, but I’m flummoxed that…