Tag: Budget and Tax Policy

U.S. Government Debt Is Now at a Once-Unimaginable Level »

Earlier today I was looking through some old records, and I came across a flyer for a symposium in which I participated at Seattle University early in 1990. The flyer announced the symposium topic by asking: “A $3 Trillion National Debt: Does It Matter? What Can We Do About It?” The topic seemed timely…
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“Site-Neutral” Medicare Payments: A Good Idea from President Obama’s Budget »

Imagine that there are two providers of the same service. Their quality and timeliness are comparable. However, one provider charges significantly more than the other. In a normally functioning market, you would expect that the more expensive provider would have to significantly change its cost structure to stay in business. What if the more…
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Death Valley? Peter Thiel and Steve Jobs on What Could Kill Silicon Valley »

On January 27, legendary entrepreneur Peter Thiel told a packed house at an Independent Institute luncheon, at the Olympic Club in San Francisco, that to blaze new trails ask: “What important truth do very few people agree with me on?” One of mine is that California will not be the epicenter of the tech…
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About That CBO Report Claiming Obamacare’s Costs Are Down 20 Percent… »

In the January 2015 Budget and Economic Outlook, the Congressional Budget Office (CBO) pronounced that Obamacare’s future costs will be one-fifth lower than had been originally estimated: In March 2010, CBO and JCT projected that the provisions of the ACA related to health insurance coverage would cost the federal government $710 billion during fiscal…
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The State of the Disunion »

Top stories in world news last week: New Snowden Documents Reveal that the NSA is Preparing for Cyber War According to top secret documents from the archive of NSA whistleblower Edward Snowden seen exclusively by SPIEGEL, they are planning for wars of the future in which the Internet will play a critical role, with…
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Total National Security Spending Is Much Greater than the Pentagon’s Base Budget »

In a recent publication of the Mercatus Center at George Mason University, “Defense Spending Extends Beyond the Pentagon’s Budget,” Veronique de Rugy presents a valuable compilation of data for fiscal year 2013, showing how much of the government’s national security spending appears not in the base budget of the Department of Defense, but elsewhere…
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Student Debt and Default Explode While U.S. Department of Education Fiddles »

A new report from the U.S. Department of Education’s Office of Inspector General (OIG) examined what steps it had taken from fiscal years 2011 through 2014 to improve student debt and loan repayment rates. In a nutshell, a big fat nothing—and taxpayers will be stuck paying off tens of billions in bad loans as…
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The Program No One Dares to Question: Social Security »

I recently exchanged letters with Joe Davidson, columnist for the Washington Post, about the Social Security program, in which I raised a central problem with this program, a defect consistently ignored by all its supporters. (Incidentally, the $1,000 reward I promised Mr. Davidson—which he did not attempt to claim—remains open to any staff member…
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Anti-Government Movements »

The past five years have seen four major anti-government movements gain momentum. These movements have not been revolutionary movements, but rather movements that pushed to limit the scope of government in various ways. The Tea Party movement began in 2009 with the motivation of electing candidates to office who supported a reduction in the…
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Professor Gruber Strikes Again »

According to a recent post by Scott Vorse on Brietbart’s “Big Government” website, MIT economics professor Jonathan Gruber, already in hot water for saying that “the stupidity of the American voter” was politically indispensable in getting Congress to pass the Affordable Care Act, previously had advised former NYC mayor Michael Bloomberg on tobacco tax…
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