by Dan Mitchell | Dec 9, 2020 | Big Government, Blogs, Economics, Government Spending
At the risk of oversimplification and exaggeration, these six principles tell you everything you need to know about fiscal policy. For purposes of today’s column, let’s focus on Principle #3, which is that “Deficits and debt are symptoms of the underlying problem” of...
by Dan Mitchell | Oct 22, 2020 | Big Government, Blogs, Economics, Government Spending, Taxation
The good news is that the election season is almost over. The bad news is that we’ll have a president next year who does not embrace classical liberal principles of free markets and social tolerance. But that doesn’t mean Trump and Biden are equally bad. Depending on...
by Dan Mitchell | Oct 19, 2020 | Big Government, Blogs, Government Spending
For a land-locked nation without many natural resources, Switzerland is remarkably successful. One reason for the country’s success is pro-market policy. Switzerland routinely scores in the top 5 according to both Economic Freedom of the World and Index of Economic...
by Dan Mitchell | Oct 17, 2020 | Big Government, Blogs, Government Spending, States
One of the problems with state balanced budget requirements is that tax revenues are very sensitive to economic conditions. Boom Years: When there’s robust economic growth, politicians collect unanticipated revenue because more people have good jobs and more...
by Dan Mitchell | Oct 14, 2020 | Big Government, Blogs, Government Spending, Taxation, Welfare and Entitlements
Bernie Sanders was considered a hard-core leftist because his platform was based on higher taxes and higher spending. Elizabeth Warren also was considered a hard-core leftist because she advocated a similar agenda of higher taxes and higher spending. And Joe Biden,...
