A bloated welfare state is a drag on economic performance.

The “unexploded bomb” has detonated.

Today’s $1 trillion deficit would be a budget surplus of nearly $500 billion.

A 2×2 matrix to visualize good fiscal policy.

A balanced budget requirement is neither necessary nor sufficient for good fiscal policy.

Should we even have a debt limit?

Here’s what you need to know.

America’s long-run fiscal challenge is entirely driven by excessive spending growth.

This article appeared in USA Today.

A private pension fund with these numbers would have been shut down a long time ago.