I’ve been asking a number of friends (mostly Democrats) if they could guess the amount of gross public debt that exists for each U.S. taxpayer. No one has come close. Now with final exams in progress in universities, I reckoned a pop quiz was in order for the readership. So here it is (no peeking at the…
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The infant-industry argument claims that tariff protection is needed so that fledgling industries can grow up and fend for themselves. History taught us that these industries rarely, if ever, grow up. Today, due to the rules of the World Trade Organization, tariff protection is no longer a viable policy tool. So what’s an infant industry to do? Seek subsidies, of course. The year 2012 marked…
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For 25 years the federal government has been trying to ban sea otters (Enhydra lutris nereis) from vast reaches of the Pacific Ocean off California. Now the U.S. Fish and Wildlife Service says the plan was “harmful” and “futile.” The translocation program, therefore, “should be considered a failure.” Otter advocate Steve Shimek told the…
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The U.S. Treasury just concluded the sale of 200 million shares of GM stock back to the company for $27.50 per share. The federal government had acquired the stock for roughly $54 per share back in 2009 when it intervened in GM’s impending bankruptcy. The federal government then has just lost 5.3 billion dollars…
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University of California bosses have suspended the new logo that had drawn so much ridicule, and deservedly so. Indeed, the slick new design packs all the gravitas of a state lottery badge. On the other hand, the new logo does symbolize what the University of California has become, a bloated, wasteful state institution. As…
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Jaime Avila Jr., who purchased guns illegally as part of a government sting operation, has been sentenced to 57 months in prison. That prompts a meditation on Operation Fast and Furious and the federal bureau of Alcohol Tobacco and Firearms. Fast and Furious began with the belief of U.S. President Barack Obama and Felipe…
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Just in case there was any doubt that excessive spending is the federal government’s real problem in running up the national debt, former vice-presidential candidate Paul Ryan tweeted the following graphic projections: The revenue projections for President Obama’s desired higher tax rates on top income earners look pretty optimistic, so there should be a…
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The federal National Transportation Safety Board (NTSB) seeks new regulations requiring all automobile manufacturers to include “black box” data recorders in all new cars and light trucks. Federal Transportation Secretary Ray LaHood said the regulations will “make our vehicles and our roadways even safer,” but that may well be doubted. The data recorders do…
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How would you change today’s federal government spending and taxes to balance the budget? The Wall Street Journal has come out with an online tool where you can do just that, selecting from a menu of prepared options that have been discussed in the public debate. There are three screens of options to consider….
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The Pentagon plans to add the Defense Clandestine Service to the nation’s Intelligence Community (IC). This is being billed as an advance in national security but it shapes up as a costly bureaucratic turf war that could leave the nation less secure. The current IC boasts 17 member agencies: Air Force Intelligence Army Intelligence…
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