by Dan Mitchell | Jul 13, 2011 | Big Government, Blogs, Government Spending, Taxation
There are three reasons why I’m not very hopeful about the outcome of the debt-limit battle. 1. There is no unity in the GOP camp. Republicans have been all over the map during this fight. Some of them want a balanced budget amendment. Some want a one-for-one deal of...
by Dan Mitchell | Jul 6, 2011 | Big Government, Blogs, Government Spending, Taxation
The President has issued an ultimatum that more tax revenue must be part of budget negotiations. Indeed, he endlessly repeats his desire for a “balanced approach,” implying that as much as 50 percent of the deficit reduction in any agreement should come from higher...
by Dan Mitchell | Jul 6, 2011 | Big Government, Blogs, Government Spending
I’m not a big fan of the rating agencies. I’ve warned in TV interviews that they generally wait too long before downgrading profligate governments. So when the rating agencies finally catch up to everyone else and lower their outlook for failing welfare states such as...
by Dan Mitchell | Jun 11, 2011 | Big Government, Blogs, Economics, Government Spending
Here’s another news appearance from my new youtube channel. I chat about the importance (or lack thereof) of a possible ratings downgrade for the United States government. You’ll see that I’m not overly impressed by Moody’s and the rest of the rating...
by Dan Mitchell | May 31, 2011 | Bailouts, Big Government, Blogs, Government Spending
Way back in February of 2010, I wrote that a Greek bailout would be a failure. Not surprisingly, the parasites at the International Monetary Fund and the political elite from other European nations ignored my advice and gave tens of billions of dollars to Greece’s...
