by Dan Mitchell | Aug 14, 2020 | Big Government, Blogs, Economics, Government Spending, Keynesian
Last week, I shared some data showing how the economy enjoyed a strong recovery from recession in the early 1920s when President Warren Harding cut government spending. (And these were genuine cuts, not the nonsense we get from today’s politicians, who claim they’ve...
by Dan Mitchell | Jul 30, 2020 | Big Government, Blogs, Economics, Government Spending, Taxation
Because of changing demographics and poorly designed entitlement programs, the burden of government spending in the United States (in the absence of genuine reform) is going to increase dramatically over the next few decades. That bad outlook will get even worse...
by Dan Mitchell | May 9, 2020 | Big Government, Blogs, Government Spending
I’ve warned that the budgetary impact of the coronavirus may trigger another fiscal crisis in Europe. Especially Italy. But what about the United States? Will we reach a point, as Margaret Thatcher famously warned, of running out of other people’s money? We probably...
by Dan Mitchell | Apr 24, 2020 | Blogs
When I put forth the “The Case for Social Security Personal Accounts” in early 2011, I pointed out that the program’s long-run fiscal shortfall was more than $27 trillion. We should be so lucky to have that problem today. The Social Security Administration just...
by Dan Mitchell | Feb 13, 2020 | Big Government, Blogs, Government Spending
Back in 2012, when America had a budget deficit above $1 trillion, Investor’s Business Daily opined that America’s fiscal mess could have been avoided if politicians had simply adopted a TABOR-style spending cap starting in 1998. As illustrated by the accompanying...
