by Dan Mitchell | Jan 11, 2021 | Blogs, Economics
I have repeatedly warned that nations get in fiscal trouble when government is too big and growing too fast. In such countries, it’s very common to find high levels of government debt as one of the symptoms of excessive spending. This can create the conditions for a...
by Dan Mitchell | Sep 3, 2020 | Uncategorized
Yesterday, the Congressional Budget Office released updated budget projections. The most important numbers in that report show what’s happening with the overall fiscal burden of government – measured by both taxes and spending. As you can see, there’s a big one-time...
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 | Mar 26, 2020 | Bailouts, Big Government, Blogs, Europe
I’m not an optimist about Europe’s economic future. Most nations have excessive welfare states and punitive taxes, which is hardly good news. You then have to consider demographic trends such as aging populations (i.e., more people relying on government) and falling...
