I’m in Vilnius, Lithuania, where I just finished speaking to a regional conference of the European Students for Liberty. I subjected the kids to more than 90 minutes of pontificating and 73 PowerPoint slides, but I could have saved them a lot of time if I simply…
Daily Analysis
Obama’s Golden Rule of Ever-Expanding Dependency
Regular readers know about Mitchell’s Golden Rule, which is the simple – but essential – notion that the burden of government spending shouldn’t grow faster than the private sector. Well, after reading this utterly depressing news about how the number of people riding…
The Simple and Predictable Story of Fiscal Bankruptcy in Cyprus
With all the fiscal troubles in Greece, Spain, Ireland, Portugal, and Italy, there’s not much attention being paid to Cyprus. But the Mediterranean island nation is a good case study illustrating the economic dangers of big government. For all intents and purposes,…
The Laffer Curve Wreaks Havoc in the United Kingdom
Back in 2010, I excoriated the new Prime Minister of the United Kingdom, noting that David Cameron was increasing tax rates and expanding the burden of government spending (including an increase in the capital gains tax!). I also criticized Cameron for leaving in…
Tax Hikes Are Economically Destructive, Politically Poisonous, and Completely Ineffective at Reducing Red Ink
Back in April, I explained that I would accept a tax increase if “the net long-run effect is more freedom, liberty, and prosperity.” I even outlined several specific scenarios where that might occur, including giving the politicians more money in exchange for a flat…
California’s Fiscal Policy and the Lesson of Humpty Dumpty
I’ve almost exhausted my interest in California’s suicidal fiscal policy. How many times, after all, can you write about politicians over-taxing and over-spending to the point of economic ruin? But everyone has a cross to bear in life, and (if you allow me to mix my…
Food Stamps, Handouts, and the Ever-Expanding Welfare State
In their never-ending efforts to buy votes with other people’s money (see the first cartoon in this post), politicians have been expanding the welfare state and creating more dependency. This is bad for the overall economy because it means a larger burden of…
The “Remain-Calm-All-Is-Well” Image of the European Crisis
Yesterday, I did a serious post outlining the absurd policies being pursued in France, Italy, and Greece, along with some much-deserved scorn for the throw-fuel-on-the-fire statist analysis of the International Monetary Fund. Later in the day, I posted a cartoon about…
What Does It Mean When Obama and His Former Top Economist both Reject Obamanomics?
To answer the question in the title, it means you need to read the fine print. This is because we have a president who thinks the government shouldn’t confiscate more than 20 percent of a company’s income, but he only gives that advice when he’s in Ghana. And the same…
Government Cost-Overruns, the English Version
Many of us know that Obamacare will be very expensive and that supporters, aided and abetted by the Congressional Budget Office, deliberately low-balled the cost estimates. I’ve also cited my Cato colleague Chris Edwards, who has made a more comprehensive (and…