Author Archive: William Shughart

Public Broadcasting Subsidy: Unnecessary and Irrational


Sunday December 19th, 2010   •   Posted by William Shughart at 12:46am PDT   •   8 Comments

According to a Poll Position survey conducted in late October, 45 percent of Americans said “No” when asked whether the U.S. government should stop helping to fund NPR; 39 percent said “Yes.” Only those respondents identifying themselves as Republicans favored, by a 54 percent to 28 percent margin, ending taxpayer support for NPR. Given...
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State of California to Sell 24 Government Buildings for $2.3 Billion


Saturday October 16th, 2010   •   Posted by William Shughart at 1:30am PDT   •   0 Comments

News item: “California to Sell 24 Government Buildings for $2.3 Billion” (AP, October 12, 2010). As a way of helping plug the State of California’s now-chronic budget deficit, this headline is welcome news. Among the state-owned properties on the auction block are LA’s Ronald Reagan State Building and San Francisco’s Civic Center. I have...
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Raising Taxes Is No Way to Spur Economy


Monday September 20th, 2010   •   Posted by William Shughart at 9:05pm PDT   •   5 Comments

It’s September, and election season is under way. Marching to the tune of President Obama’s class-based political rhetoric, some candidates for Congress are campaigning on promises to raise taxes significantly on electorally safe targets. This year’s list of victims includes “the rich,” Wall Street and America’s oil companies. Those three groups are in Washington’s...
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Do We Need Another Stimulus? Tax-and-spend Has Never Worked


Wednesday September 15th, 2010   •   Posted by William Shughart at 5:03am PDT   •   1 Comment

During the Great Depression, economist John Maynard Keynes recommended increasing federal government spending, financed by borrowing, to boost the U.S. economy. It didn’t matter how the new money was spent. If no better use could be found, Keynes suggested building pyramids. Keynes’ theory that increased public spending would offset declines in consumer and business...
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The Costs of the Federal Bailouts


Friday September 3rd, 2010   •   Posted by William Shughart at 12:12am PDT   •   0 Comments

Ever since the bursting of the real estate bubble became evident at the end of 2007, Washington has been on a spending spree to avert events that, in its collective judgment, threatened the stability and solvency of the U.S. financial system and economy as a whole. Although the U.S. economy has experienced recurrent cycles...
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Obama and FDR


Monday August 23rd, 2010   •   Posted by William Shughart at 5:53am PDT   •   0 Comments

In March 1933, when the Great Depression had driven the U.S. economy to rock bottom, the unemployment rate stood at 25 percent. One out of every four Americans who had had a job in 1929 was queuing in a bread line rather than working on an assembly line. The unemployment rate remained at historically...
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