I hate taxes more than anyone, but other policies matter as well, so if I had the choice of replacing current government policies with the ones that existed at the end of the Clinton years, I would gladly make that trade. Yes, it would mean higher tax rates, but it…
Daily Analysis
Obama’s Policy Failure, Part I
Former Senator Phil Gramm had a column last week in the Wall Street Journal that deserves two blog posts. This first post highlights Gramm’s analysis showing that the U.S. has been very Keynesian compared to Europe, with numerous efforts to jump start the economy with…
Here’s How to Balance the Budget
Our fiscal policy goal should be smaller government, but here’s a video for folks who think that balancing the budget should be the main objective. The main message is that restraining the growth of government is the right way to get rid of red ink, so there is no…
There Is No Libertarian or Conservative Argument for Higher Taxes
Eli Lehrer has an article on the FrumForum entitled “Five Revenue Raisers the GOP Should Back.” He argues it would be good to get rid of preferences such as the state and local tax deduction and the mortgage interest deduction, and he also asserts that there should be…
Washington’s Fiscal Nightmare
Here’s an amusing video from our friends at Reason. But there’s a serious point about how our fiscal problems are entirely the result of a rising burden of government spending. For those don’t have 3D glasses, here is the 2D version:
Europe’s Riots, America’s Future
Riots and protests have swept across Europe, as populations lured into government dependency are upset that there’s no longer enough money to maintain the existing level of redistribution. Here’s an excerpt from a BBC report: Tens of thousands of people from around…
Overhauling CBO and JCT Is a Real Test of GOP Resolve, not the “Pledge to America”
While I’m glad Republicans are finally talking about smaller government, I’ve expressed some disappointment with the GOP Pledge to America. Why “reform” Fannie and Freddie, I asked, when the right approach is to get the government completely out of the housing sector….
The GOP “Pledge” Doesn’t Go Far Enough: There Should Be No Federal Government Role in Housing
Considering they could have sat on their hands and relied on unhappy voters to give them big gains in November, I’m not too unhappy about the House GOP’s “Pledge to America.” Yes, it’s mostly filled with inoffensive motherhood-and-apple-pie language, but at least…
It’s Simple to Balance the Budget without Higher Taxes
John Podesta of the Center for American Progress had a column in Politico yesterday asserting that “closing the budget gap entirely on the spending side would require draconian programmatic cuts.” He went on to complain that there are some people who “refuse to look…
More Evidence of the Failed Stimulus
Not that we need more evidence, but here are two new items confirming the absurdity of thinking that bigger government is stimulus. First, we have a story from Los Angeles revealing that the city only created 55 jobs with $111 million of stimulus funds. This…