I periodically get emails and phone calls from people wanting me to respond to particular statements from politicians, columnists, and other high-profile figures. Not surprisingly, Paul Krugman occasionally is the subject of these communications, particularly with…
Daily Analysis
Bad News for Barack Obama, Tom Friedman, and other Statists Who Want to Use Taxpayer Money to Play with Trains
It’s not too surprising to learn that spending money on “high-speed” rail is foolish. And it’s hardly a revelation to learn that politicians over-promise and under-deliver when they push through these boondoggles. My Cato colleague, Randall O’Toole, has written…
Would You Prefer Privatization or a Death Panel?
Republicans are understandably nervous about polling data showing considerable opposition to the Ryan plan’s Medicare proposal – particularly since they just voted for a budget resolution in the House of Representatives that includes such a reform. Their unease is…
Senator Corker Explains His Plan to Cap Spending and Reduce the Fiscal Burden of Government
America is in fiscal peril in the short run because of a 10-year spending binge by Bush and Obama and in the long run because of a toxic combination of entitlement programs and demographics. Congressman Paul Ryan has introduced a budget plan to address America’s…
Yes, We Should Cut the Defense Budget
There are very serious ways to save huge amounts of money from the defense budget, largely by making smarter choices about defining America’s national security. This obviously involves high-profile decisions about whether it is smart to engage in nation-building in…
Washington’s Make-Believe Spending Cuts
The recent agreement between Obama and Boehner supposedly cuts spending by $38 billion. I’ve already explained that this number is disappointingly small and noted that the effect on spending for the current fiscal year is almost too small to measure. But my analysis…
Why Are Geithner and Bernanke Trying to Panic Financial Markets with Debt Limit Demagoguery?
By taking advantage of “must-pass” pieces of legislation, Republicans have three chances this year to restrain the burden of government. They didn’t do very well with the ‘CR fight” over appropriated spending for the rest of FY2011, which was their first…
I Wish I Had Been Wrong about the Budget Deal
Some people thought I was being unfair when I referred to the budget deal as a kiss-your-sister agreement. But as more information is revealed, it looks like the GOP got the short end of the stick – largely because they were afraid of a government shutdown (even…
Obama’s Tax Increase Trigger: Punishing Taxpayers with Automatic Tax Hikes When Politicians Overspend
Responding to widespread criticism of his AWOL status on the budget fight, President Obama today unveiled a fiscal plan. It already is being criticized for its class warfare approach to tax policy, but the most disturbing feature may be a provision that punishes the…
America’s Fiscal Future and the Battle for the GOP’s Soul
Thanks to demographics and ill-conceived entitlement programs, America is on a path to becoming a bankrupt European-style welfare state. We know how to fix this problem, but whether we make the necessary reforms depends on the heart and soul of the GOP. Are…