I’ve written, ad nauseum, about the economic impact of excessive government spending. But I’ve also acknowledged that Article I, Section VIII of the Constitution grants specific powers to the federal government. What I’ve neglected to explore, though, is the key issue…
Daily Analysis
New International Monetary Fund Study Inadvertently Provides Very Strong Evidence against the Value-Added Tax
I’m not a big fan of the International Monetary Fund, largely because the folks in charge oftentimes advocate toxic policies such as bailouts, higher taxes, and currency devaluation. But there are some top-rate economists working at the IMF, and the bureaucracy has…
The Fiscal Burden of the Welfare State: A Picture Says a Thousand Words
Here’s a remarkable chart showing that we spend about $60,000 on various welfare programs for every poor household in America. And what are we getting for that giant expenditure of money? Well, as this other chart shows, our progress in the fight against poverty came…
Free Markets Protect Consumers with “Mutually Reinforcing” Private Regulation
I’ve written before about the heavy costs of regulation, including these rather sobering statistics. Or, to be more accurate, here are some staggering numbers. Americans spend 8.8 billion hours every year filling out government forms. The economy-wide cost of…
Rewarding Hospitals to Let Old People Die? That’s the Wrong Way to Cut Government Spending
I used to think I was in favor of every possible step to reduce the burden of government spending. Are agricultural subsidies wasteful and corrupt? Yes, so get rid of the Department of Agriculture. Is Medicaid spending out of control? Yes, so cap outlay growth and…
Is America in Worse Fiscal Shape than Europe?
I’ve shared BIS and OECD data showing that the United States has a bigger long-run fiscal burden than Europe. That’s a bit of a strained comparison since “Europe” includes fiscally responsible countries such as Switzerland and Estonia, but also soon-to-be failed…
Even Leftists Won’t Defend Obama’s Make-Believe $4 Trillion “Grand Bargain” Budget Plan
You have to give President Obama credit for chutzpah. He pushed through a faux stimulus in his first year and Obamacare in his second year, both of which significantly increased the burden of government spending. In the past two years, he’s basically punted, proposing…
Shocker: Bureaucrat-Dominated Panel Claims Bureaucrats Are Underpaid
Since I’ve been in Washington from more than 25 years, it takes something really remarkable to shock me. But when I read today that federal bureaucrats are supposedly underpaid, notwithstanding all the evidence to the contrary, I thought somebody had sent me an…
Supporters Urge Romney to Announce that He Intends to Reverse the Statist Policies of Obama…and Bush
People in the political world say that President Obama threw Secretary of State Clinton under the bus in an attempt to protect himself from political fallout from Libya. I don’t follow those issues, so I can’t comment about the veracity of that charge, but I find it…
Despite their Moral Preening, Statists Would Not Want to Live in a World without Capitalism
Part of my job is to educate people about free markets and fiscal policy. In some cases, that means providing information and analysis to those already sympathetic to limited government. There are many people who like the idea of lower tax burdens, for instance, but…