Deficit Spending on the Backs of the Poor

– April 25, 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.” Exactly. In t …

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“Why a Lack of Transparency in the Administration’s Budget II Is a Problem” – Taylor

– April 21, 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 outlay …

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Why Washington only cut $38 billion: A Public Choice perspective

– April 20, 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. Using public choice economics, or the economics of politics, he shows how the political …

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Me, Obama, Standard and Poor’s and Popcorn

– April 19, 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. So w …

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“Welfare and Inflation Create Endless Spiral” – Henry Hazlitt

– April 7, 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. 28, Richard Nixon also proposed that Social Secu …

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Was There a Saving Glut or a Credit Expansion Glut?

– April 7, 2011

The Greenspan-Bernanke explanation on the cause of the financial bubble rests on the theory of the saving glut. According to this explanation, the problem was not that the Fed mismanaged the monetary policy, but that a saving glut that took place outsi …

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“Republicans Embrace Rep. Ryan’s Budget Plan for 2012” – WP and Bloomberg

– April 7, 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. It promises to define the party heading into the 2012 presidential election and t …

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“Fed, Sanguine About Inflation, Not Apt to Alter Stimulus Plan” – Boston Globe

– April 6, 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. Some members of that committee h …

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“ECB Cannot Tailor Monetary Policy to Individual Countries” – FT

– March 30, 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 …

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“Our House Is Not in Order” – FDR

– March 30, 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 …

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“Does the U.S. Economy Need Inflation?” – William Anderson

– March 29, 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. The …

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“The Rise and Fall and Rise Again of Supply-Side Economics” – Forbes

– March 29, 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. The news then was dominated …

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