Topic: Fiscal Policy

Sorry, But Stimulus Policies Will Not Work

– March 13, 2020

The most urgent health-related step is for the federal and state governments to remove all restrictions on private-sector experimentation while trying to find solutions to this epidemic.

Fiscal Policy

The Astonishing Spending Promises of the Political Class (Video)

– February 16, 2020

“Nothing can enter the public treasury for the benefit of one citizen or one class,” wrote Frederic Bastiat, “unless other citizens and other classes have been forced to send it in.” This is a good way to think about the spending plans of politicians. …

Fiscal Policy

How To Disguise a Budget Increase as a Cut

– February 15, 2020

The bottom line is that there is nothing historic about this budget, or these cuts. When we look at it in the cold light of reality, it is just the same big spending, unbelievable assumptions, and fiscal irresponsibility that have, dismayingly, become commonplace.

Fiscal Policy

The Stakes of Politics are Far Too High

– February 12, 2020

Despite the comedy of errors that was the Iowa Democratic Caucus, not to mention the ambiguity of New Hampshire, the national fervor grows. Bernie Sanders’ strong performance makes him the Democratic frontrunner: his odds of winning the nomination stan …

Fiscal Policy

Trump Cutting the Budget? Don’t Believe It

– February 11, 2020

It’s like being on a diet and claiming progress because you’re gaining two pounds each month rather than five pounds.

Fiscal Policy

Unaccountable Accounting in the Pentagon

– January 29, 2020

Even somewhat less than eagle-eyed observers will, if only by virtue of the size of the number, take note: the 2020 budget for the Pentagon is roughly three-quarters of one trillion dollars ($738 billion), and yet it has reported $35 trillion in accoun …

Fiscal Policy

Should I Keep Fighting the Ex-Im Bank or Give Up?

– January 26, 2020

This week, I was invited to testify before the Board of Advisors of The United States Export-Import Bank (EXIM). Whatever their reasons, I commend them for having me for a stimulating conversation. As many of you know, I have been and remain an a …

Fiscal Policy

A Swollen River of Indebtedness

– January 7, 2020

The first book that Nobel-laureate economist James Buchanan wrote is titled Public Principles of Public Debt. Published in 1958, at the zenith of Keynesianism’s ascendancy among economists, this book exposed the elementary Keynesian fallacy that fueled …

Fiscal Policy

One Point Four Trillion Dollars

– December 21, 2019

Future taxpayers will be getting lumps of coal for many Christmases to come.

Fiscal Policy

Government Spending is the Real Tax

– October 29, 2019

If budgetary rules themselves are the products of the same political pressures and election dynamics that lead to growing debt and deficits, how can we get politicians to adopt strict and binding rules in the first place?

Fiscal Policy

Drain the Swamp but Spread the Stench

– October 25, 2019

If we must continue to suffer the existence of a large administrative state, it would only be “democratic” to ensure that every American has a chance to serve in it.

Fiscal Policy

If You Can’t Abolish the Ex-Im Bank, Reform It at Least

– September 23, 2019

The Ex-Im Bank is a mercantilist New Deal–era agency that extends financial products to foreign companies so they will buy American products. It is one of the quintessential examples of cronyism.