Back in 2010, I shared some wise words from Walter Williams and Theodore Dalrymple about how society can become unstable when people figure they can “vote themselves money.” On a related note, I shared the famous “riding in the wagon” cartoons in 2011 and the “Danish…
Daily Analysis
In the 50-Year War on Poverty, Bureaucrats Have Won while Both Taxpayers and Poor People Have Lost
We know the welfare state is good news for people inside government. Lots of bureaucrats are required, after all, to oversee a plethora of redistribution programs. Walter Williams refers to these paper pushers as poverty pimps, and there’s even a ranking showing which…
Obamacare, Cost Curves, the Ever-Worsening Entitlement Crisis, and the Case for Spending Restraint
I’m very worried about the burden of government spending. Moreover, I’m quite concerned that poorly designed entitlement programs will lead to fiscal disaster. And I’m especially irked that Obama made the problem worse by ramming through yet another misguided and…
Can Greece Be Rescued?
I’m a pessimist about public policy for two simple reasons: 1) Seeking power and votes, elected officials generally can’t resist making short-sighted and politically motivated choices that expand the burden of government. 2) Voters are susceptible to bribery,…
The Simple Lesson We Should Learn from Global Economics
I very rarely feel sorry for statists. After all, these are the people who think that their feelings of envy and inadequacy justify bigger and more coercive government. And I get especially irked when I think about how their authoritarian policies will hurt the most…
The Medicare Money Pit of Waste, Fraud, and Abuse
Since I primarily work on fiscal policy, I normally look at the budgetary impact of entitlement programs. And the numbers are very grim. But I’m also an economist, so I periodically comment on how government intervention undermines the efficient functioning of…
Social Security’s Looming Fiscal Nightmare
With all the controversy over the failed and costly Obamacare program, it’s understandable that other entitlements aren’t getting much attention. But that doesn’t mean there aren’t serious problems with Medicaid, Medicare, and Social Security. Indeed, the…
The Trans-Atlantic Version of Great Moments in Government-Run Healthcare
When government suppresses the free market and takes over the healthcare sector, you get some really odd results. Consider these stories from Sweden: A man sewing up his own leg after getting frustrated with a long wait. The government denying a wheelchair to a…
America’s Built-In Greek Fiscal Future
I had a very bad lunch today. But not because of what I ate. My lunch was unpleasant because I moderated anoontime panel on Capitol Hill featuring Senator Ron Johnson of Wisconsin and my Cato colleague Chris Edwards. And I should hasten to add that they were splendid…
Deconstructing the Initiative-Sapping, Taxpayer-Abusing Welfare State
I’ve written many times about America’s looming fiscal collapse, and I’ve also pontificated about America’s costly and failed welfare state. I even have speculated about when America reaches a tipping point, with too many people riding in the wagon of government…