Writing in the Wall Street Journal, Peter Ferrara of the Institute for Policy Innovation explains that Washington budget deals don’t work because politicians never follow through on promised spending cuts. This is a very relevant argument since Obama’s so-called…
Daily Analysis
Are These Stories Examples of Washington Corruption? Well, if It Walks Like a Duck and Talks Like a Duck…
The “appearance of impropriety” is often considered the Washington standard for corruption and misbehavior. With that in mind, alarm bells began ringing in my head when I read this Washington Times report about Jacob Lew, Obama’s nominee to head the Office of…
Europe Is Royally %$(#&@, and America May Be Next
Jim Glassman has a thorough article in Commentary explaining that Europe is in deep trouble both because high tax rates discourage work and production and because excessive handouts encourage sloth and dependency. This should be a common-sense observation, but most…
Great Moments in Government Waste
I’m sure if you read the Constitution with enough imagination, you’ll find (perhaps in invisible ink) the section stating that the federal government is supposed to provide subsidies to help specific companies market soap made out of goat milk. But my imagination…
America’s Long-Term Fiscal Crisis: Worse than Greece?
Professor Larry Kotlikoff has some very sobering analysis of America’s fiscal status. Instead of just looking at current deficits, he examines the “present value” of all future expenditures and revenues. Simply stated, America is in worse shape than Greece because of…
Great Moments in Government Waste
Isn’t it nice to know that the federal government has about 100 separate programs to fund community activities that supposedly help fight crime? And isn’t it even nicer to know that there is no evidence that the money (which gets spent on things like pool parties and…
Another Sad Example of Mitchell’s Law
I’ve decided my one legacy to the world is the phrase, “Bad government policy begets more bad government policy.” This term, which I am modestly calling Mitchell’s Law, describes what happens when government intervention (Fannie and Freddie, for example, or Medicare…
Driving Companies from the U.S. Market with too Much Regulation and Litigation
Almost every regulation presumably produces some benefit. The real issue is whether the benefits are significant and – even more important – whether they exceed the costs. Unfortunately, most regulations fail this common-sense test. A German magazine provides some…
Great Moments in Government Waste, the European Version
It’s aggravating and maddening to send tax dollars to Washington and watch them get wasted on pork-barrel projects and inefficient programs. Imagine how much worse it would be, though, to send tax dollars to an international bureaucracy and be utterly helpless to stop…
The Founding Fathers Would Be Even More Horrified by Today’s Spending
The Washington Examiner explains that America’s Founders would be aghast to see how modern politicians have accumulated $trillions of debt. That may be true, but the editorial is nonetheless unsatisfactory because it’s quite likely that the founders would be even more…