Last November, several news outlets reported that Amtrak, the nation’s heavily subsidized passenger rail service, was on track to break even for the first time in the company’s history. After nearly 50 continuous years of operating in the red, covering all its history, 2020 may become its first year in the black:
It’s not often a cabinet official acknowledges that the U.S. government has behavioral flaws, but that’s exactly what happened on January 23, 2020, when U.S. Treasury Secretary Steven Mnuchin confirmed that the U.S. government has a spending problem.
Writing at the Washington Post, economics columnist Robert J. Samuelson considers the president’s track record on his deregulatory agenda and sees slower progress ahead. First, though, he notes several successes of deregulation:
California’s State Controller, Betty Yee, is responsible for paying each of the state’s bills. Unfortunately for Californians, she may have just bought the state a costly lawsuit because she has refused to account for any of the 49 million checks her office writes each year, covering $320 billion in payments.
The government-run U.S. Postal Service began in 2020 with a dubious track record. It has lost money in each of the past 13 years. In 2019, USPS made $514 million more in revenue than it did in its previous fiscal year, thanks to increases in postage rates and its package delivery business. But the…
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On October 11, 2019, the U.S. Federal Reserve announced it would begin buying billions of Treasury bills every month to ensure the nation’s banking system would have “ample reserves” through the end of 2019 as part of its efforts to help prevent a liquidity crisis from wreaking havoc in U.S. money markets.
The U.S. Department of Defense has a big problem with part suppliers who exploit government regulations over time to jack up the prices of products far above what it costs to make them, costing taxpayers millions of dollars more than they should have to pay for them. In particular, the firm TransDigm has been…
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California’s costly high-speed bullet train boondoggle has officially entered a zombie-like state of existence, neither truly alive nor fully dead.
Public-employee pension plans across the United States are trillions of dollars short of what they need to pay out the generous retirement benefits politicians have promised state and local government employees.
2019 was another big year for reducing the burden of federal regulations on Americans, continuing a trend that President Trump initiated with Executive Order 13771 on January 30, 2017. That executive order set the goal that for every new regulation the administration generated, an average of two regulations would be eliminated. That’s something that…
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