by Dan Mitchell | Sep 22, 2010 | Big Government, Blogs, Government Spending, Taxation
John Podesta of the Center for American Progress had a column in Politico yesterday asserting that “closing the budget gap entirely on the spending side would require draconian programmatic cuts.” He went on to complain that there are some people who “refuse to look...
by Dan Mitchell | Jul 30, 2010 | Big Government, Blogs, Taxation
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...
by Dan Mitchell | Jun 23, 2010 | Big Government, Blogs, Capital Gains, VAT
As the chart below indicates, the United Kingdom has a large budget deficit solely because government spending has increased to record levels (OECD data). Unfortunately, the new Tory-Liberal coalition government has decided that taxpayers should be punished for all...
by Dan Mitchell | Mar 29, 2010 | Big Government, Blogs, Health Care
Since we’re already depressed by the enactment of Obamacare, we may as well wallow in misery by looking at some long-term budget numbers. The chart below, which is based on the Congressional Budget Office’s long-run estimates, shows that federal government...
by Dan Mitchell | Mar 28, 2010 | Big Government, Blogs
The Wall Street Journal has a good editorial today lauding the new Republicans governors of New Jersey and Virginia, both of whom are reducing spending. But unlike in Washington, where a spending cut is so loosely defined that politicians can increase spending and...
