Tag: deficit

No Surprise: Lobbyists Rule the Deficit “Supercommittee” »

In the “everything old is new again” category, USA Today reports: Sixty-six former aides to lawmakers serving on a congressional panel charged with finding ways to slash the federal deficit have represented powerful defense and health care industries that face colossal cuts in government spending, a new analysis shows. Meanwhile, as the article also...
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Bill for the Unborn: $20,000 (FY 2011) »

Back in February 2008, I satirized George W. Bush’s $150 billion stimulus checks in “The Power of Numbers: Simplify! Simplify! I broke down the costs of Big Government for a family of four and showed how pitifully small $150 billion was in comparison to the $5 trillion then spent by local, state and federal governments....
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Harmful Tax Practices: Harmful to Whom? »

In the December 2009 National Tax Journal, which targets an academic and policymaking audience, there are several articles on international tax avoidance and evasion. One, by Gaetan Nicodeme, who works with the European Commission, is titled “On Recent Developments in Fighting Harmful Tax Practices.” These “harmful” tax practices, as you might guess, are policies...
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The National Debt versus the Deficit »

A student recently asked me “why do the annual federal budget deficits not match increases in the national debt.” It is an excellent question, since the national debt is a stock, and the deficit (or surplus) is the annual flow altering that stock. As we will see, the answer takes on particular significance in...
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Call Their Bluff »

The District Attorney of Contra Costa County, California—one of the wealthiest regions in the United States, with a median household income of $86,709—has announced that his office will no longer prosecute assaults, thefts, burglaries, felony drug cases, shoplifting, trespassing, and a host of other crimes, due to budget cuts. Needless to say, an uproar...
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Robert Higgs on War, Taxes and Economic Crises »

With Barack Obama’s delusional belief in massive expansions in government spending and power as a means to overcome the economic recession and create human welfare, Senior Fellow Robert Higgs‘s discussion on war, taxes and economic crises could not be more timely and instructive. Dr. Higgs is the author of the award-winning Institute book Depression,...
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When Is an Earmark Not an Earmark? »

From President Obama’s speech to Congress Tuesday evening: I’m proud that we passed the recovery plan free of earmarks, and I want to pass a budget next year that ensures that each dollar we spend reflects only our most important national priorities. No earmarks among the $787 billion authorized in the bill’s 1,073 pages?...
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The Reckless Federal Reserve, Bernard Madoff and Elihu Root: Lessons for Today »

The Federal Reserve has now moved to escalate even further its inflationary jihad in a vain and highly dangerous attempt to “stimulate” the economy. As reported in the New York Times: The Federal Reserve entered a new era on Tuesday, lowering its benchmark interest rate virtually to zero and declaring that it would now...
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  • MyGovCost.org
  • FDAReview.org
  • OnPower.org
  • elindependent.org