BBC News reports in “Spending Review: Osborne wields axe,” that faced with the largest government debt in Europe, British Chancellor of the Exchequer George Osborne has announced that the UK government will make the biggest spending reductions since World War II, cutting on average 19% from spending and 500,000 government jobs, including the budgets…
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In an article at CBSNews.com, “National Debt Up $3 Trillion on Obama’s Watch,” Mark Knoller reports that: “New numbers posted today on the Treasury Department website show the National Debt has increased by more than $3 trillion since President Obama took office. “The National Debt stood at $10.626 trillion the day Mr. Obama was…
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As the Wall Street Journal reports in an article, “The Ethanol Bailout: EPA does the industry another big favor,” the Environmental Protection Agency has stepped in to expand the pork for ethanol producers: Scenes from a bailout: Last week, the Environmental Protection Agency decided to make the ethanol lobby’s guaranteed “market” even larger. Shares…
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The Wall Street Journal notes in a new article, “The 2010 Spending Record: In two years, a 21.4% increase”: “Perhaps you missed it, but then so did the Washington press corps. Late last week the Congressional Budget Office released its preliminary budget tallies for fiscal year 2010, and the news is that the U.S….
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In a new article in the Financial Times, Nicole Bullock reports that a huge pension deficit of more than half a trillion dollars for 50 U.S. cities may produce calls for a massive federal bailout: “Big US cities could be squeezed by unfunded public pensions as they and counties face a $574 billion funding…
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The Associated Press reports that the Social Security Administration’s Inspector General has determined that: “More than 89,000 stimulus payments of $250 each went to people who were either dead or in prison, a government investigator says in a new report. “The payments, which were part of last year’s massive economic recovery package, were meant…
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Mark Hemingway comments in the Washington Examiner on a report in the New York Times that with 10% unemployment, the National Science Foundation (NSF) has awarded a theater company with a grant of $700,000 to produce a stage play to “educate” the public regarding the claims of global warming. “One in 10 Americans are…
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In a new article in the Washington Examiner, “For a frugal Gal, I have got a lot of debt,” Tina Korbe discusses the merits of the Government Cost Calculator at MyGovCost.org: “Among my friends, I’m known for my frugality. I budget scrupulously, log every purchase I make in a ledger and often forego even…
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In a new article in the Wall Street Journal, Louise Radnofsky traces the bureaucratic stranglehold of federal, state and local governments that has directly hindered the spending of the Obama administration’s “stimulus” funding from the federal government. Specifically, she examines the malaise resulting from the roadblocks to insulate homes in Detroit because of restrictions…
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Independent Institute Senior Fellow Robert Higgs examines the serious problem of “regime uncertainty” being created by the feasting of federal spending programs starving (crowding out) the private investment needed for recovery from the recession: “Private saving and investment are the heart and soul of the dynamic market process. Together they provide and allocate the…
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