Fiscal Policy

Monday, May 2nd, 2011
"It might help getting our minds around what is so wrong in America today by thinking about the local police force. It’s not hard to understand that the job of the police is to protect lives and property. Suppose we decided to broaden their mandate.
Wednesday, April 27th, 2011
"Republicans and Democrats on Capitol Hill are strategizing for what is expected to be a bruising debate on raising the nation’s debt limit and reining in government spending.
Tuesday, April 26th, 2011
"The conventional wisdom in Washington — on the left and among many on the right — is that the debt ceiling must be raised in order to avoid defaulting on the national debt, a potentially catastrophic scenario, the thought of which has business and financial leaders lobbying hard to raise the ceilin
Tuesday, April 26th, 2011
"No man in America is a match for House Budget Committee Chairman Paul Ryan on the federal budget. No congressman in my lifetime has been more determined to cut government spending. No one is better informed for the task he has set himself.
Monday, April 25th, 2011
Rejecting any serious cuts to government spending, President Obama stated recently, "Nothing is easier than solving a problem on the backs of people who are poor, for people who are powerless and don't have lobbyists or don't have clout."
Thursday, April 21st, 2011
"A transparent budget proposal—such as the Administration’s first 2012 Budget presented by President Obama on February 14 or the House Budget presented by Paul Ryan on April 6—contains year-by-year tables showing the proposed path for government outlays over time.
Wednesday, April 20th, 2011
"Why did politicians cut a trivial amount of money in the recent budget agreement? Prof. Ben Powell explains why politicians don't cut spending, as a general rule.
Tuesday, April 19th, 2011
For the past few months I have been really disturbed about this nation’s fiscal challenges. With a $14 trillion structural deficit, and a $1.6 trillion deficit for this fiscal year alone, I think people should be concerned—I mean really concerned.
Thursday, April 7th, 2011
"As to where the money is coming from, Humphrey announced, "We can pay for it out of a growing, expanding economy. And it is actuarially sound." It is depressing to record that three days later, on Sept.
Thursday, April 7th, 2011
The Greenspan-Bernanke explanation on the cause of the financial bubble rests on the theory of the saving glut.
Thursday, April 7th, 2011
"The proposal represents the most comprehensive philosophical statement by resurgent Republicans since they claimed control of the House in last fall’s midterm elections.
Wednesday, April 6th, 2011
"The Federal Reserve shows few signs of easing its aggressive efforts to stimulate growth before the middle of the year, according to the minutes of the most recent meeting of the central bank’s policy making committee.
Wednesday, March 30th, 2011
"The benefit of maintaining price stability in the eurozone as a whole, and thereby keeping the inflation risk low, becomes even greater in times of crisis. At the height of the financial crisis, the ECB lowered interest rates aggressively in the face of downside risks to price stability.
Wednesday, March 30th, 2011
"For the fiscal year 1934, based on the appropriation bills passed by the last Congress and the estimated revenues, the deficit will probably exceed $1,000,000,000 unless immediate action is taken. Thus we shall have piled up an accumulated deficit of $5,000,000,00.
Tuesday, March 29th, 2011
"One would hope that the supposed “great minds” at the Fed and in academic economics would better understand inflation and its destructiveness, but that is not to be. First and most important, the lack of inflation is not the enemy of the economy.
Tuesday, March 29th, 2011
"A long time ago, in a galaxy far, far away, the American dream was going to hell in a handbasket. I speak, of course, of 1980, a time that seems as remote to the elite imagination as those of the days of America’s founding.
Monday, March 28th, 2011
"The financial strains created by crises in Japan and Europe highlight a growing problem: The rich world is getting close to the point where it won't be able to bear the costs of another disaster.
Friday, March 25th, 2011
"Costly though it has been, the financial crisis has merely brought forward a fiscal reckoning. In most of the rich world ageing populations have been driving up the cost of public health care and state pensions.
Wednesday, March 23rd, 2011
"In a series of newspaper columns last year, Don Boudreaux compared the economy to a giant jigsaw puzzle with billions of pieces that can fit together in numerous combinations only a small number of which produce a meaningful pattern or picture.