As the national debate shifts away from the immediate issues surrounding the debt ceiling, members of Congress should focus now on the fundamental purpose of government in a free society. Current excesses in federal spending have resulted largely due to the continued…
Daily Analysis
Congress Made a Deal, but Still No Solutions
The big news is the deal reached to extend the debt ceiling. That politicians reached a deal amongst themselves to extend the nation’s credit so they can borrow and spend more money should not come as a surprise, nor should the fact that the deal, being spun as…
Spending Is Nuts, the Debt Deal’s a Joke, and Some Big Fights Remain
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…
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,…