Washington is Fantasy Land. Only in this corrupt city can you turn increases into cuts merely by increasing spending by less than previously planned. And almost every politician magically knows how to transform “spending” into “investment.” So I’m used to Orwellian…
Daily Analysis
Five reasons Why Switzerland Is Better than the United States (but Five Reasons Why I’ll Stay in America)
Greetings from Montreux, Switzerland, on the shores of Lake Geneva. There aren’t many places where palm trees are framed by snow-capped mountains. Heck, even I managed to take a decent photo. But let’s shift back to the world of public policy. Every time I’m in…
China, Currency Wars, Monetary Policy, and Competitiveness
I was part of a debate for an English-language Russian TV program on the international implications of economic policy, particularly with regard to the United States and China. My job was simple because I am not a big fan of either nation’s policy. Government…
Norquist Is Right and Coburn Is Wrong: Tax Increases Will Lead to More Spending, Not Lower Deficits
There’s a significant debate now taking place in Washington – largely behind closed doors, but sometimes covered by the media – on whether fiscal conservatives should maintain a rigid no-tax-increase position. One side of the debate features Grover Norquist of…
Barack Obama and Harry Reid Are AWOL in the Fight for Fiscal Responsibility
In the past 10 years, the burden of federal spending has skyrocketed, more than doubling from$1.86 trillion in 2001 to an estimated $3.82 this year. President Bush deserves a lot of the blame thanks to the no-bureaucrat-left-behind bill that bloated the Department of…
Latest News on a Government Shutdown, Including a Debate with Robert Reich on CNBC
In this discussion on Larry Kudlow’s show, I reiterate the central point from my National Review article and explain that the government shutdown in 1995 led to real fiscal restraint. If that was a loss for the GOP, I hope they lose again this year. But will this…
Victory in Wisconsin?!?
Kudos to Governor Walker of Wisconsin. Republicans rarely have the intelligence or the fortitude to win battles that reduce the burden of government, but it appears that he is on the verge of prevailing in his effort to limit special privileges for government workers….
The Moochers Fight Back
The fiscal fight on Capitol Hill has triggered a firestorm of lobbying, as greedy special interests are squealing about a potential loss of handouts. This USA Today story focuses on funding for the Corporation for Public Broadcasting and Planned Parenthood, both of…
Guess Who Profits from Inflation?
As I’ve noted on previous occasions, I’m not a fan of Ben Bernanke and his actions at the Federal Reserve, though it is possible that QE2 may be the right policy (albeit for different reasons than publicly stated by the Fed Chairman). I’ve had several people say to…
Bernanke’s Soft-Core Keynesianism Is Even Worse than the Nonsensical Analysis of Hard-Core Keynesians
Earlier this week, the Washington Post predictably gave some publicity to the Keynesian analysis of Mark Zandi, even though his track record is worse than a sports analyst who every year predicts a Super Bowl for the Detroit Lions. The story also cited similar…