It’s official—the United States total public debt outstanding has now surpassed 100% of the nation’s Gross Domestic Product. The last time it did that, the United States was fighting to win World War II…. Click here to see what the total value of the U.S. national debt is today.
In new analysis from the Mackinac Center, James Hohman discusses how $3 billion in federal and state funding for General Motors’ Chevy Volt, the much acclaimed “green,” plug-in, hybrid electric vehicle, is costing taxpayers $250,000 per car. As noted by Hohman, the Volt “might be the most government-supported car since the Trabant,” the car…
Read More »
Back in the 1970s and 1980s, one of the annual traditions in Washington D.C. was the announcement of the Golden Fleece Awards, which identified the some of the biggest and silliest things the U.S. federal government wasted money upon during the previous year. Originally launched by former Senator William Proxmire (D-WI), his spirit lives…
Read More »
Today, economist Richard Rahn discusses in his Washington Times op-ed “Government spending jobs myth” the Krugman/Keynesian fallacy that government spending produces jobs: If additional government spending could create more jobs, it would be expected that over the long run, the socialist or semisocialist economies would have full employment and the smaller-government, developed economies would have higher unemployment. Again, the…
Read More »
Over at Project Syndicate, Kenneth Rogoff answers the question: “Is Modern Capitalism Sustainable?” Rogoff starts by saying that if what you mean by capitalism is the European model of a welfare state, the answer is no. Continental European capitalism, which combines generous health and social benefits with reasonable working hours, long vacation periods, early…
Read More »
Sarah Skwire has penned a lovely rendition of a Christmas favorite. Below is her poem – full of truth, wit, and seasonal charm. Be sure spread some cheer this season and share this poem with all your free-market friends! How the Grinch Stole the Free Market All the folks Down in Galt’s Gulch Liked…
Read More »
As of the end of the U.S. federal government’s 2011 fiscal year on 30 September 2011, the United States’ total public debt outstanding was recorded to be approximately $14.790 trillion. From the end of the U.S. government’s Fiscal Year 2010, the amount of the U.S. national debt has increased by 9.1% in just one…
Read More »
In “For Obama’s green-car revolution, fits and starts” in the Washington Post, Carol Leonig and Joe Stephens report that the highly-touted, taxpayer subsidized, “green” car bonanza is failing, as production lines and sales expectations have been dramatically scaled back in recent months. In reality, this federal program is nothing but a corporate-welfare system for…
Read More »
Traditional public policy and welfare economics have held that “market failures”—the presumed inability of a free market to deliver certain goods and services deemed to be in the public interest—are common and require government intervention to protect the public good. But is this actually the case? The Independent Institute book, Beyond Politics, by Senior…
Read More »
The Daily Show with Jon StewartGet More: Daily Show Full Episodes,Political Humor & Satire Blog,The Daily Show on Facebook As it has come to light, from August 2007 to April of 2010 the Fed loaned out over $7.7 trillion to troubled banks. A Bloomberg report reveals that the U.S. government made these secret bailouts…
Read More »
 |
 |
 |