While MyGovCost.org and the Independent Institute do not endorse political candidates, Mark Grannis—the “Libertarian alternative” candidate in Maryland’s 8th Congressional District race—endorsed us in an interview with The Washington Post on Thursday, October 28th. Grannis cites the Independent Institute, which launched MyGovCost.org on August 31st (and is here on Facebook), among his civic activities—which…
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Do you remember back in April 2010, when the administration was trumpeting how much better the expected budget deficit for 2010 was going to be? When, magically, the White House’s Office of Management and Budget’s projection of the expected deficit dropped by just over $300 billion U.S. dollars from its originally forecast value of…
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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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Despite the threat of another mass labor protest scheduled in France tomorrow, President Sarkozy is promising the modest increase in the standard retirement age from 60 to 62 will pass the legislature. Many of the French protesters are the students and youth—angry because they feel they are entitled to these “social protections”. Young people in the…
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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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Ken Rogoff on rising gold prices and public debt: “At $1,300, today’s price is probably more than double very long-term, inflation-adjusted, average gold prices. So what could justify another huge increase in gold prices from here? “One answer, of course, is a complete collapse of the U.S. dollar. With soaring deficits, and a rudderless…
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