Economist Tyler Cowen has a thought-provoking op-ed in Bloomberg that challenges the government bureaucrat industrial complex argument that higher taxes on the rich will provide enough money to pay for every welfare program they want. Here’s perhaps the most eye-opening part of Cowen’s article: If we look at the overall fiscal position of the…
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What do the citizens of San Diego, California and St. Louis, Missouri have in common? In the world of professional major league sports, both cities have recently lost their National Football League franchise, with the billionaire owners of both the San Diego Chargers and the St. Louis Rams decamping for the “greener” pastures of…
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When President Trump unveiled his official budget proposal for the U.S. government’s 2018 fiscal year two weeks ago, the proposal was greeted by headlines such the following from Bloomberg: Trump to Pitch Deep Cuts to Anti-Poverty Programs, Medicaid Or the following headline from the New York Times: Trump’s Budget Cuts Deeply Into Medicaid The…
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There is a sad race underway between two fiscally-troubled states in the Union, where the state governments of both Connecticut and Illinois appear intent on becoming the first full U.S. state to file for the equivalent of bankruptcy. Just over a week ago, Connecticut took a strong step backward toward reaching that status first…
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How much has changed at the U.S. Department of Veterans Affairs over the last three years? That’s an important question to ask on this Memorial Day holiday. Just over three years ago, MyGovCost began covering the secret wait-list, healthcare-rationing scandal at the U.S. Department of Veterans Affairs. Here’s how we described the roots of…
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Before diving into the more interesting numbers in President Trump’s first official budget proposal, let’s ask a budget-history trivia question: When was the last time that any U.S. president proposed a federal budget that would be balanced within 10 years? If you guessed President George W. Bush in 2007, you’re right! Now, suppose you…
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It’s here! After months of anticipation following March release of President Trump’s “skinny” budget proposal (cover pictured on the right), the president’s “fat” budget proposal is being released today. Bloomberg summarizes the main features that define President Trump’s first full budget proposal. President Donald Trump would dramatically reduce the U.S. government’s role in society…
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What happens to Americans who have taken out student loans from the U.S. government, but aren’t able to pay them back? Increasingly, the U.S. government is taking them to court to get its money back. National Public Radio’s Bobby Allyn reports on a relatively new policy that the U.S. Department of Education put into…
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The state of Connecticut’s fiscal outlook took a sharp turn for the worse this week. Following the state’s sharp plunge in income tax revenues earlier this month, which prompted the state to completely drain its rainy day fund and to modestly cut the state government’s budget, the state’s growing debt burden and pension liabilities…
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As of May 11, 2017, the total public debt outstanding of the U.S. government exceeds $19.8 trillion. Political Calculations provides a summary of the major interests to whom the U.S. owes all that money, as of the end of the U.S. government’s 2016 fiscal year on September 30, 2016, when the national debt total…
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