If Jimmy Carter and Barack Obama are neck-and-neck competitors in the contest to be the public face of incompetent statism in America, then the competition in Europe is between Herman van Rompuy and Olga Stefou. But since I’ve already crowned Ms. Stefou as the Queen of Greece, then Mr Rompuy (a.k.a., President of the Euorpean Council) […]

Here’s the video that won the lucrative Powerline prize. Perhaps not as catchy as the entry I posted a couple of days ago, but very well done, with a proper focus on excessive government. And here’s a video just released by Cato on why the debt deal – at best – is a holding action […]

Considering the Democrats control the Senate and the White House, I actually think the Republican leadership did a decent job in the debt negotiations. Of course, I had low expectations, but did anybody expect miracles with Obama in the White House? As you might expect, this means the agreement is – at best – a […]

Politicians last night announced the framework of a deal to increase the debt limit. In addition to authorizing about $900 billion more red ink right away, it would require immediate budget cuts of more than $900 billion, though “immediate” means over 10 years and “budget cuts” means spending still goes up (but not as fast […]

While I’ve been somewhat critical of Senator Coburn’s willingness to raise taxes, I’ve never doubted that he is a sincere and tireless fighter for smaller government. Indeed, his staff periodically share examples of government waste that boggle the mind, though I don’t share many of them on the blog since I’m afraid people will become […]

While driving home last night, I had the miserable experience of listening to a financial journalist being interviewed about the anemic growth numbers that were just released. I wasn’t unhappy because the interview was biased to the left. From what I could tell, both the host and the guest were straight shooters. Indeed, they spent […]

In the spirit of the budget battle, readers have to eat their peas (i.e., endure my analysis) before getting to the dessert menu of jokes from the late-night comics. The big news today is that Speaker Boehner had to cancel a vote on his “Budget Control Act” last night. But other than the political-drama angle, […]

In an ideal world, GOPers would hold firm and not pass any debt limit until Democrats agreed to enact something like the Ryan plan/Cut-Cap-Balance. But I’ve never thought that was a realistic strategy. When we got to the drop-dead point, Obama would have Geithner or Bernanke give an inflammatory speech designed to panic financial markets […]

I testified before the House Ways & Means Committee earlier today. As always, my trip inside the belly of the beast was an interesting adventure. The tax-writing committee was holding a hearing on the value-added tax. I was on a panel with five other witnesses, and all of the other people testifying were sympathetic to […]

I’ve pointed out on several occasions that the burden of federal spending fell significantly during the Clinton years. Indeed, if we did nothing other than bring federal spending back down to 18.2 percent of GDP (where it was when Clinton left office), we’d have a budget surplus before the end of the decade (even with […]