Here are some odious details from the UK-based Sun. Danny Creamer, 21, and Gina Allan, 18, spend each day watching their 47in flatscreen TV and smoking 40 cigarettes between them in their comfy two-bedroom flat. It is all funded by the taxpayer, yet the couple say…
Daily Analysis
The Sequester May Not Be “Fair,” but It’s Real and It Would Slow the Growth of Government
Much to the horror of various interest groups, it appears that there will be a “sequester” on March 1. This means an automatic reduction in spending authority for selected programs (interest payments are exempt, as are most entitlement outlays). Just about everybody…
Which Department of the Federal Government Should Be the First to Be Abolished?
A reader sent an email to ask “Which federal department should be abolished first?” I guess this is what is meant when people talk about a target-rich environment. We have an abundance of candidates, including the Department of Education, Department of Agriculture,…
Obama’s Vision of a Nation of Takers
If you don’t want to be depressed, you should stop reading right now. You probably know that we’ve been suffering because of a rising burden of government spending. And you probably understand that much of the problem is the relentless growth of redistribution and…
Head Start: Another Costly Government Failure
What’s more realistic: A unicorn, Bigfoot, the Loch Ness Monster, or a successful government program? This isn’t a trick question. Even though I’ve presented both theoretical and empirical arguments against government spending, that doesn’t mean every government…
Is Anybody Surprised that Krugman Was Wrong about U.K. Fiscal Policy?
Just like in the United States, politicians in the United Kingdom use the deceptive practice of “baseline budgeting” as part of fiscal policy. This means the politicians can increase spending, but simultaneously claim they are cutting spending because the budget could…
If You Could Reform only One Major Entitlement Program, Which One Would You Pick?
This is a tough question. I obviously want comprehensive reform of all entitlement programs, so selecting just one is a bit of a challenge. Sort of like being asked to pick your favorite kid. Would I reform Social Security? That’s a logical choice. It’s the biggest…
Debt Limit, Spending Bills, and Picking the Right Fight
In an ideal world, Congress would not raise the debt limit. This would force – automatically and immediately – a balanced budget. More important, it would produce a meaningful reduction in the burden of government spending. And contrary to hyperbole from defenders of…
The Basket Case Sometimes Known as Japan
Good fiscal policy doesn’t require heavy lifting. Governments simply need to limit the burden of government spending. The key variable is making sure spending doesn’t consume ever-larger shares of economic output. In other words, follow Mitchell’s Golden Rule. It’s…
Obama’s Hidden $236 Billion Tax Hike
Obama imposed a big tax hike last year. But I’m not talking about the fiscal cliff and the President’s class-warfare trophy of higher tax rates on those evil rich people. That happened this year. Instead, I’m referring to the increase in the regulatory burden. Here…