Posts Tagged ‘Budget and Tax Policy’

The Debt Ceiling and the Skinny Budget


Monday March 13th, 2017   •   Posted by Craig Eyermann at 6:34am PDT   •   2 Comments

For the U.S. national debt, the date of March 16, 2017, marks the day when the statutory debt ceiling, which limits how much money the U.S. government can borrow, will go back into effect for the first time since it was suspended back on November 2, 2015, as part of former President Obama’s last…
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Immediosis and Government Folly


Sunday April 1st, 2012   •   Posted by Burt Abrams at 4:51pm PDT   •   5 Comments

Ever wonder why we suffer from so many terrible public policies? A newly identified psychological disorder called “Immediosis” may hold the answer. Immediosis is an obsessive concern for immediate gratification with no regard for future consequences. Immediacs, individuals suffering from immediosis, are most prevalent among the following populations: politicians, Keynesian economists and children under…
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Federal Debt Climbs Past Annual GDP


Saturday January 14th, 2012   •   Posted by Emily Skarbek at 7:54am PDT   •   10 Comments

I could not resist posting this beautiful graph of the current state of the momentousness US debt. The graph is particularly useful for eyeballing the historical path of U.S. debt to GDP. Often pundits will say that our current debt-to-GDP ratio is not unreasonable because it is not too high relative to the period…
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The Wrath of Keynes


Wednesday November 16th, 2011   •   Posted by Emily Skarbek at 7:45am PDT   •   4 Comments

James Buchanan and Richard Wagner begin their book Democracy in Deficit by explaining that prior to the absorption of Keynesian economics, the conventional wisdom of Adam Smith prevailed. Adam Smith had observed that: “What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.” This…
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A Fresh Perspective for Occupy Wall Street


Sunday October 16th, 2011   •   Posted by Emily Skarbek at 9:32am PDT   •   6 Comments

The Occupy Wall Street demonstrations are lackluster at best. One troublesome aspect of the whole “movement” concerns the poor economic logic underlying their causes. The occupiers are targeting the wrong enemy when they claim corporate greed and income inequality caused by capitalism is generating the problems in Washington. These claims have been propagated by…
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A Page from the Book of Zug


Monday August 29th, 2011   •   Posted by Emily Skarbek at 11:51am PDT   •   1 Comment

Imagine a place called Zug where luxury shops abound, government pays its bills, and there are so many jobs that employers sometimes have a hard time finding people to fill them. Imaginary, you say? Zug is not a figment of my imagination. Zug exists. And it is just as prosperous as you can imagine!…
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Michael Munger on America’s Debt Crisis


Saturday July 23rd, 2011   •   Posted by Emily Skarbek at 5:36am PDT   •   1 Comment

In a speech to the Libertarian Party in Indianapolis, Michael Munger gives three things the government has to do to deal with the debt crisis: 1. Cut defense spending by by at least 15%. More than 15% — even better! 2. Sell US bonds in the Social Security trust fund. Also raise the Social…
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‘Budget Hero’ Game Allows You to Try to Balance the Budget


Monday July 18th, 2011   •   Posted by Stephanie Freedman at 2:50pm PDT   •   1 Comment

An USA Today article discusses a new game ‘Budget Hero’ which allows players to enact their policy objectives while keeping the government from going broke. The article explains the demonstration: In a quick demonstration of the game, two college students, one taking typical Republican positions and the other Democratic, showed just how difficult it…
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Should Congress Raise the Debt Ceiling? Weigh In!


Thursday July 14th, 2011   •   Posted by Emily Skarbek at 9:18am PDT   •   10 Comments

Freakonomics reports yesterday that a new poll from the Pew Research Center and the Washington Post shows more people see raising the debt limit as a bigger risk than not raising it. Steven Levitt and Stephen Dubner conduct their own poll. Weigh in here! As Ezra Klein reports on the development of the Capitol…
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U.S. Treasury Default Options


Monday May 16th, 2011   •   Posted by Emily Skarbek at 7:49am PDT   •   3 Comments

Charles Rowley summarizes two options facing bond holders as sketched out by Stanley Druckenmiller, the legendary investor and onetime fund manager for George Soros. “First, suppose that one owns a 10-year Treasury. In return, one receives an income stream over that period. As a result of default that income stream will be delayed for…
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