The Tax Cut and Jobs Act of 2017 appears to be delivering an unexpected benefit to state governments: It is lowering their cost of their borrowing.
If things go as analysts at the Bipartisan Policy Center expect, the U.S. government will face a heightened risk of defaulting on its $22 trillion debt in early September.
The one thing politicians and bureaucrats can absolutely do well is to spend exactly as much money as they say they will.
Government regulation contributes to stifling effective competition in the free market which leads to price gouging and excessive inflation.
Where the primary cause of the U.S. government’s growing deficits and national debt is concerned, it’s the spending, stupid!
Net interest on the national debt has become one of the fastest growing segments of federal spending.
Last December, the Congressional Budget Office generated a list of ideas for how the U.S. government could save trillions of dollars over the next 10 years.
Truly fixing the problem will mean resetting the level of state government employee pension benefits to fiscally sustainable levels.
Ten states have a chronic overspending problem.
Despite collecting record levels of revenues from taxes, somehow the Gov. is managing to increase its spending even more.