The late, great Margaret Thatcher famously said that “Socialist governments…always run out of other people’s money” and “I love the smell of napalm in the morning” is an iconic line from Apocalypse Now. Thinking about the fiscal mess in Europe, I’m going to combine…
Daily Analysis
By Global Standards, the Government Education Bureaucracy Gets the Most Money while Delivering Mediocre Results
I don’t write or speak about education very much, but, when asked, I explain that America has a very costly and inefficient government school monopoly. The strongest piece of evidence is an amazing chart put together by a Cato colleague. It shows that education…
The Never-Ending Story of Government Cost Overruns
Why does virtually everything the government does cost more than we’re initially told? In 2009, for instance, I warned that Obamacare would be much more costly than advertised, so I certainly wasn’t surprised several years later when the numbers began to climb. Heck,…
Responding to Scandals and Corruption, the IRS Rewards Itself with Giant Bonuses
What do you do if you’re part of a government bureaucracy that has been caught red-handed engaged in sleazy, corrupt, and (almost surely) illegal targeting of Americans for their political beliefs? But before you answer, keep in mind that your bureaucracy also has…
Europe’s Politicians Learned the Wrong Lesson from Saint Augustine
In my never-ending crusade to push for the right kind of austerity, I appeared on RT to pontificate on the merits of limited government. We got to cover a lot of material, so here’s some augmenting material. 1. The right kind of “austerity” is less government…
What’s the Better Role Model, France or Switzerland?
At the European Resource Bank conference earlier this month, Pierre Bessard from Switzerland’s Institut Liberal spoke on a panel investigating “The Link between the Weight of the State and Economic prosperity.” His presentation included two slides that definitely are…
Siding with the Heritage Foundation in the “Austerity” Fight with Paul Krugman and the Washington Post
I’m not reluctant to criticize my friends at the Heritage Foundation. In some cases, it is good-natured ribbing because of the Cato-Heritage softball rivalry, but there are also real policy disagreements. For instance, even though it is much better than current…
Other than Obama and Krugman, Is there Anybody Who Still Thinks Bigger Government Is Good for Growth?
I’ve repeatedly explained that Keynesian economics doesn’t work because any money the government spends must first be diverted from the productive sector of the economy, which means either higher taxes or more red ink. So unless one actually thinks that politicians…
I Made a $16 Trillion Mistake, but Still Had a Stronger Position in this Debate
I’ve done a handful of TV debates on Social Security, including the time I said that I wished Republicans had a secret plan for personal retirement accounts. So I thought I was well prepared for this duel with a defender of the status quo on Fox Business Network. I…
With the Nation Facing a Fiscal Crisis, Why Are Greek Taxpayers Subsidizing a Big Bird-Type State-Run Media Network?!?
couple of years ago, I shared a chart that powerfully demonstrated why Greece was in fiscal crisis. The chart, which showed the explosive growth of the government bureaucracy, also provided some indication of why reform would be so difficult. Once a majority of a…