Tag Archives : Deficit
Latest News on a Government Shutdown, Including a Debate with Robert Reich on CNBC
In this discussion on Larry Kudlow’s show, I reiterate the central point from my National Review article and explain that the government shutdown in 1995 led to real fiscal restraint. If that was a loss for the GOP, I hope they lose again this year. But will this happen? If Republicans don’t surrender, a shutdown […]
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GOP Wins First Skirmish in Budget Fight, but Shutdown Battle Still Looms
A large number of Democrats voted with Republicans in the House yesterday to pass a two-week spending bill that includes $4 billion in cuts compared to what Obama requested. This is a modest victory for the GOP since they can truthfully claim that they are on target to impose the equivalent of $100 billion of […]
read more...Should Congress Say No to Increasing the Debt Limit?
The Tea Party doesn’t mince words. In a bold editorial posted at Foxnews.com, the leaders of the Tea Party Patriots, along with Andy Quinlan of the Center for Freedom and Prosperity and a private investor named Steve Baer, make the case for cutting up the government’s credit card. Reading this column makes me feel wimpy. […]
read more...Spending Restraint Works: Examples from Around the World
America faces a fiscal crisis. The burden of federal spending has doubled during the Bush-Obama years, a $2 trillion increase in just 10 years. But that’s just the tip of the proverbial iceberg. Because of demographic changes and poorly designed entitlement programs, the federal budget is going to consume larger and larger shares of America’s […]
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How to Fix the Entitlement Problem
One of my presentations at CPAC addressed America’s long-term entitlement crisis. I was part of a panel organized by the National Taxpayers Union, and I discussed how to solve the long-run fiscal problems caused by Social Security, Medicare, and Medicaid. The lighting and focus leave something to be desired, but hopefully my message is crisp […]
read more...To Fix the Budget, Bring Back Reagan…or Even Clinton
President Obama unveiled his fiscal year 2012 budget today, and there’s good news and bad news. The good news is that there’s no major initiative such as the so-called stimulus scheme or the government-run healthcare proposal. The bad news, though, is that government is far too big and Obama’s budget does nothing to address this […]
read more...Obama the Born-Again Budget Cutter?!?
Chalk up another victory – at least on the rhetorical level – for the Tea Party. President Obama will release his fiscal year 2012 budget tomorrow and he’s apparently become a born-again fiscal conservative. Here are some excerpts from a Washington Post story. President Obama will respond to a Republican push for a drastic reduction […]
read more...House Budget Cuts Are a Great Fiscal Victory, but Just the First Step of a Long Journey
I am pleasantly stunned that GOP leaders have increased the level of cuts in the bill that will fund the government for the final seven months of fiscal year 2011. Kudos to the freshman members, the Tea Party, and the conservatives who have led the charge and achieved so much. They certainly exceeded my expectations. […]
read more...The 1993 Clinton Tax Increase Did Not Lead to the Budget Surpluses of the Late 1990s
Proponents of higher taxes are fond of claiming that Bill Clinton’s 1993 tax increase was a big success because of budget surpluses that began in 1998. That’s certainly a plausible hypothesis, and I’m already on record arguing that Clinton’s economic record was much better than Bush’s performance. But this specific assertion it is not supported […]
read more...Greetings from Italy
I’m in Milan, at the office of the Institute Bruno Leoni, which overlooks the famous Castle Sforza and is almost within shouting distance of the remarkable cathedral. This evening, I’ll be talking about how Italy should balance its budget by limiting the size of government, and my message will be identical to the one I […]
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