A balanced federal budget in the United States is consistent with a massively bloated government operating well beyond its constitutional limits. This is what the budgetary experts at libertarian and conservative think tanks like Cato and Heritage ignore: balanced budgets and spending cuts will do nothing to shrink the federal government, and they won’t […]
The Size of Government Will Sadly Soar With a “Balanced Budget” Read More »
Balanced budget orthodoxy in the United States will keep the poorest parts of the U.S. relatively impoverished. And not because of reduced federal spending. Quite the opposite. Peter Bauer (1915-2002), a Hungarian-born British economist, and winner of the libertarian Cato Institute’s first Milton Friedman Prize for Advancing Liberty, would know why. Bauer was awarded
Peter Bauer Would Understand the Danger of Balanced Budgets Read More »
Why do Silicon Valley startups never rate loans? Because money is ruthless, and there’s not an interest rate high enough to compensate lenders for loans to business concepts that fail quickly over 90 percent of the time. Why is money ruthless? See the genius of compounding. It reveals the substantial cost of losing money. Which
Never Have Federal Tax Cuts Ever “Starved the Beast” Read More »
“Washington’s spiraling debt trends are simply unsustainable.” Those are the words of Manhattan Institute budget expert Jessica Riedl in the Washington Post. But unless Riedl knows something that the deepest markets in the world don’t know, what she describes as unsustainable is quite sustainable. The $37 trillion (and rising fast) worth of federal debt
$37 Trillion Debt Vivifies the Perils of Future Budgetary Balance Read More »
The U.S. has a massive budget and eye-popping debt precisely because Congress annually fleeces the rich. To believe otherwise is to believe in Santa Claus, ferociously dumb markets, or both. What’s disappointing is that Washington Post columnist Catherine Rampell plainly believes in neither, but let’s her often reasonable disdain for the GOP and its rhetoric get
With U.S. Budgeting There’s No Such Thing As ‘Fake Math’ Read More »
