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Understanding Keynesian Economics
While speaking last week at the Acton Institute in Michigan, I responded to a question about the perpetual motion machine of Keynesian economics. For purposes of today’s column, let’s try to understand...
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Bigger Government Will Reduce Living Standards According to New CBO Research
I’ve been warning that the United States should not copy Europe’s fiscal policy, largely because living standards are significantly lower in nations with large welfare states. That’s true if you look...
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Everything You Need to Know about Fixing the Budget Mess in Washington
The 21st century has been bad news for proponents of limited government. Bush was a big spender, Obama was a big spender, Trump was a big spender, and now Biden also wants to buy votes with other...
View ArticleTrump’s Greek-Style Budget Deal
I point out in this interview that the 2011 Budget Control Act (BCA) was the only big victory for taxpayers this century. It imposed spending caps on discretionary spending and led to a sequester in...
View ArticleIn One Chart, Everything You Need to Know about America’s Long-Run Fiscal...
I wrote yesterday about the continuing success of Switzerland’s spending cap. Before voters changed the Swiss constitution, overall expenditures were growing by an average of 4.6 percent annually. Ever...
View ArticleSpending and Tax Limits in (the Country of) Georgia
I wrote two days ago about how the country of Georgia has achieved impressive economic performance thanks to major reforms to reduce the size and scope of government. Indeed, Georgia jumped from #56 to...
View ArticleThe (Spending) Nightmare Before Christmas
Yesterday’s column about “the tax nightmare before Christmas” was based on my fear that politicians will try to impose a value-added tax at some point in the not-too-distant future. Today’s column is...
View ArticleA Big Fiscal Victory: Constitutional Spending Caps for Brazil!
The good thing about being a libertarian (above and beyond respecting the rights and liberties of other people) is that you can always say “I told you so” when government intervention leads to bad...
View ArticleEven the OECD Now Admits Spending Caps Are the only Effective Way of...
I’m not a big fan of the Paris-based Organization for Economic Cooperation and Development. That international bureaucracy is controlled by high-tax nations that want to export bad policy to the rest...
View ArticleIt’s Time for 2016 Candidates to Unveil Plans to Restrain Spending
I’m pleasantly surprised by the tax plans proposed by Marco Rubio, Rand Paul, Jeb Bush, and Donald Trump. In varying ways, all these candidate have put forth relatively detailed proposals that address...
View ArticleBalanced Budget Requirements Don’t Work as Well as Spending Limits
When I first came to Washington back in the 1980s, there was near-universal support and enthusiasm for a balanced budget amendment among advocates of limited government. The support is still there, I’m...
View ArticleBurden of Government Spending Will Be $2 Trillion Higher in 2023 According to...
If you include all the appendices, there are thousands of pages in the President’s new budget. But the first thing I do every year is find the table showing how fast the burden of government spending...
View ArticleNew Budget from Republican Study Committee Reduces Burden of Government to...
A couple of weeks ago, I offered some guarded praise for Paul Ryan’s budget, pointing out that it satisfies the most important requirement of fiscal policy by restraining spending – to an average of...
View ArticleAccording to Obama’s Budget, Burden of Federal Spending Will Be $2 Trillion...
President Obama’s budget proposal was unveiled today, generating all sorts of conflicting statements from both parties. Some of the assertions wrongly focus on red ink rather than the size of...
View ArticlePenile Moments in Government Waste
It’s not often that I get to use the word “penis” on a public policy blog. But with my juvenile sense of humor, I exploit such opportunities whenever they arise. I wrote about an unfortunate guy who...
View ArticleNew Congressional Budget Office Numbers Once Again Show that Modest Spending...
Back in 2010, I crunched the numbers from the Congressional Budget Office and reported that the budget could be balanced in just 10 years if politicians exercised a modicum of fiscal discipline and...
View ArticleNotwithstanding Media Coverage of Black Friday, Consumer Spending Does Not...
By fighting for freedom in Washington, I’ve condemned myself to a life of frustration and aggravation. One of my many pet peeves is that so many people in DC believe that economic growth depends on...
View ArticleWashington’s Make-Believe Spending Cuts
The recent agreement between Obama and Boehner supposedly cuts spending by $38 billion. I’ve already explained that this number is disappointingly small and noted that the effect on spending for the...
View ArticleBarack Obama and Harry Reid Are AWOL in the Fight for Fiscal Responsibility
In the past 10 years, the burden of federal spending has skyrocketed, more than doubling from$1.86 trillion in 2001 to an estimated $3.82 this year. President Bush deserves a lot of the blame thanks to...
View ArticleDeconstructing the Spending Side of Obama’s Proposed FY2012 Budget
President Obama’s proposed budget for fiscal year 2012 has been released and there is lots of rhetoric in Washington about “budget cuts.” At first glance, this seems warranted. According to the...
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