Tag: fiscal responsibility
A Black Hole in California’s Fiscal Management
Does $320 billion sound like a lot of money to spend? If you answer yes, would you agree it is a good idea to have some way of keeping track of how and where you spent that money? All the way down to the penny? Now, what if that was your job? What would...
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Fed Chief Says U.S. on Unsustainable Fiscal Path
Do the U.S. national debt and the government’s budget deficits matter? If you listen to the economists shaping the Biden administration’s policy agenda, they say they do not. Their basic argument is that with interest rates so low, the government can borrow as much as politicians want to spend. They think they never have...
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Macroeconomic Policy, European-Style
Last Spring President Obama tried to talk German Chancellor Angela Merkel into continuing massive deficit spending to support the sagging economy. Quitting now, Obama argued, would cut the recovery short and risk major economic problems. A more sluggish German economy would slow world recovery, including recovery in the U.S. Merkel’s response was that narrowing...
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