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…
Daily Analysis
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…
Happy Tax Freedom Day!
If you are an average American, today is a great day. According to the Tax Foundation, you have finally worked long enough and earned enough money to satisfy the annual tax demands of federal, state, and local governments. This means you now get to keep any additional…
The Kiss-Your-Sister Budget Deal Is Finalized, but Claudia Schiffer Still Ain’t Your Sibling
There were reports about 10 days ago that the crowd in Washington reached a budget deal, for the remainder of the 2011 fiscal year, with $33 billion of cuts. That number was disappointingly low. I wrote at the time that if this was a kiss-your-sister deal, we didn’t…