If you have municipal bonds issued by the city of Los Angeles, you may want to dump them while there’s still time. The LA Times reports that one-third of the city’s budget in 2015 will get consumed by pensions and benefits for retired bureaucrats. The cost of…
Daily Analysis
Responding to Paul Krugman and Ezra Klein
I seem to have touched a raw nerve with my post earlier today comparing Reagan and Obama on how well the economy performed coming out of recession. Both Ezra Klein and Paul Krugman have denounced my analysis (actually, they denounced me approving of Richard Rahn’s…
Missouri Voters Send Obama a Big Message on Government-Run Healthcare
I believe in freedom and my opinions are never swayed by polling data and election results, but I’m not oblivious to the importance of public opinion. So I’m delighted that the voters of Missouri overwhelmingly approved a measure against a federal mandate to purchase…
A Slam-Dunk Comparison
Both Ronald Reagan and Barack Obama entered office during periods of economic misery. But they adopted dramatically different solutions. Reagan reduced the burden of government and Obama increased the burden of government. So which approach worked best? In his…
The First Lady’s Misguided Crusade
Michelle Obama has a column in the Washington Post about the supposed wonders of giving schools a bigger role in the feeding of children. My first reaction is to roll my eyes. I understand that every First Lady picks a pet cause. I just wish they found causes that…
Pontificating about Class Warfare Taxation in the New York Post
I have a column in today’s New York Post about Obama’s plan for higher taxes next year. My main point is that higher tax rates on the so-called rich have a very negative impact on the rest of us because even small reductions in economic growth have a big impact over…
Should American Taxpayers Subsidize Left-Wing Bureaucrats in Paris (Who get Tax-Free Salaries) so They Can Advocate Higher Taxes in America?
The federal government is capable of enormous waste, which obviously is bad news, but the worst forms of government spending are those that actually leverage bad things. The old welfare system, for instance, paid people not to work and have babies out of wedlock (this…
I Agree with Barney Frank
Since Barney Frank is one of the most collectivist and statist members of Congress, it is very unusual for me to write the words “I agree with Barney Frank.” But on the issue of Internet gambling, the Massachusetts Congressman actually has the right position. Steve…
With Tax Increases Looming, CBO Does About-Face and Frets about Deficits and Debt
Like the swallows returning to Capistrano, the Congressional Budget Office follows a predictable pattern of endorsing policies that result in bigger government. During the debate about the so-called stimulus, for instance, CBO said more spending and higher deficits…
Not Just an Ordinary Limousine Liberal…
I don’t know whether he is a poster child for the dangers of inbreeding or a rich dolt who is seeking meaning in his life, but Prince Charles takes left-wing hypocrisy to an entirely new level. His “carbon footprint” almost surely is bigger than 99.9 percent of the…