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  • entitlement spending

    Higher Taxes Can't Save Us

    Columbia University Business School dean Glenn Hubbard writes in the Wall Street Journal today: The spending shortfalls in Social Security and Medicare are large. According to the Congressional Budget Office, Social Security and Medicare spending left unchecked would, after a generation, consume about 10 percentage points more of GDP than … More

    Fact Checking Sullivan

    At the tail end of an extremely long diatribe that is completely not worth reading, Andrew Sullivan asserts that America’s “military consumes more and more resources.” This is a common trope on the far left and is simply not true. Below is a chart showing national defense spending as a … More

    Morning Bell: More Evasions on Medicare

    Earlier this month, Anheuser-Busch was bought by the Belgian brewer InBev for $50.3 billion. As symbolic as the purchase was for American beer drinkers, the deal will have an even bigger impact on Belgium’s economy. A gross domestic product (GDP) of $378.9 billion makes Belgium the 28th-largest economy in the world. Now … More

    The Heads in the Sand Coalition Strikes Again

    Already Medicare expenditures account for 3.2 percent of gross domestic product (GDP). Medicare Part A – the part of Medicare that pays hospital bills – is already spending more in benefits than it gets in revenues and is projected to grow by 7.4 percent on average over the next 10 … More

    A Funny Bit of Entitlements Nonsense from the U.S. Navy

    Russell Beland is a Deputy Assistant Secretary of the Navy. His piece in the Washington Post over the weekend, “5 Myths About the Bust That Will Follow the Boom”, suggests the civilian leadership of the Navy may have too much time on its hands. In brief, Beland’s thesis is that … More

    Morning Bell: Why Government Can Never Lower Health Care Costs

    If current trends continue, Social Security and Medicare spending will jump from 7.5% of GDP today to 13% by 2030. Entitlement spending at those levels will cripple the U.S. economy. The liberal/progressive answer to this problem is to push for government-run health care that will control the meteoric rise in … More

    The Farm Bill Is Not a Farm Law

    As every school child knows, to become law, Art. I, § 7 of the U.S. Constitution requires a bill to go through the formal process of bicameral passage in Congress and presentment to the President. Should the President veto the legislation, then it may become law if it is “repassed … More

    The Real Threat to the Middle Class

    Trying to stoke fears that the middle class in America is dying, progressives recently have taken to distributing a chart showing household debt rising steadily over the past fifty years. The Atlantic’s Megan McArdle has been doing a fine job putting these worries in perspective. But a front page story … More

    Blue Dogs Urged to Stand Firm on PAYGO for Entitlement Spending

    With congressional Democrats trying to resolve differences on the war supplemental, the Blue Dog Coalition has yet to crack on its demand that any new entitlement spending be offset under pay-as-you-go (PAYGO) rules. Today the Concord Coalition weighed in with a letter from executive director Robert L. Bixby urging the … More

    Morning Bell: Honesty Only Solution to Deficits

    Yesterday in Oakland, Calif., in celebration of May Day, public school children were taught that the war in Iraq was to blame for proposed education funding cuts. Never mind that not a single dime of California’s $20 billion budget deficit went to defense spending; teachers’ unions weren’t concerned with the … More