In a new article in the Christian Science Monitor, “Pentagon cuts don’t cut it. Want to really save money? Get a new security strategy”, Independent Institute Senior Fellow Charles V. Peña shows that the proposal by Obama administration Defense Secretary Robert Gates of “cuts” in spending by the Department of Defense are not cuts…
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If you want to quickly see how President Barack Obama and the Congressional Democrats’ federal government spending proposal for 2011 stacks up against what Congressional Republicans have in mind, shown against a background illustrating the trend in U.S. federal government spending since 1967, here you go! References 1 Obama, Barack. The State of the…
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In a characteristically informed and appropriately scathing attack on the welfare state, Walter Williams asserts a cautiously optimistic view of the recent trend in political discourse as it has become more popular to call for limits on the arbitrary powers of the state. “For the first time in my lifetime—and I’m approaching 75 years…
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Yesterday The New York Times published the results of a poll on how to cut the national deficit. Interestingly, a majority of people think necessary action is needed, the deficit can be reduced without increasing taxes, and it is necessary to cut back on programs they benefit from. Cause for optimism? I think not….
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In his new column syndicated by Creators Syndicate, “Are politicians serious about spending cuts?”, John Stossel asks the key question about whether Washington is really going to address the gigantic, federal government spending and debt crisis that continues to mount: Last year, I reported that the United States fell from sixth to eighth place…
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Just in time for the end of 2010, the Associated Press released a story suggesting that retired Medicare beneficiaries are being promised way more in medical care than what than they’ll have paid for during their working careers: What you paid in Medicare taxes shows up on your W-2 income tax form every year….
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According to CBS News, on the last day of 2010 the U.S. National Debt hit a record level of more than $14 trillion or $14,025,215,218,708.52, up from $9 trillion just over three years ago and a whopping 55% increase since just before 2008. As the report states: It took just 7 months for the…
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In a new editorial in the Washington Examiner, “Closing the books on the worst Congress,” the 111th U.S. Congress is described as “reckless and destructive.” This is the Congress that passed Obamacare, against the wishes of a substantial majority of the public, on Christmas Eve of last year. In the dead of night, Democratic…
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MyGovCost Director Emily Skarbek was a guest on KMED Radio with Bill Myer on Friday, December 17th to discuss the potential financial fall-outs from the latest tax-cut legislation and the importance of personalizing these policies for a clearer understanding of our fiscal conditions. FoxNews is reporting that the latest legislation has produced more favorable…
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Is the title of a new working paper by Peter Boettke and Chris Coyne of George Mason University. The abstract of the paper reads: Writing over 230 years ago, Adam Smith noted the ‘juggling trick’ whereby governments hide the extent of their public debt through ‘pretend payments.’ As the fiscal crises around the world…
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