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    Are Spending Cuts as Harmful as Tax Increases?

    Wednesday’s warning by the Congressional Budget Office (CBO) that the fiscal cliff is likely to push the economy back into recession should bring things sharply into focus for lawmakers. The CBO is correct that the fiscal cliff will lead to a recession, but its report contains faulty economic reasoning. The … More

    Obamacare Loses Again in Deficit Reduction Debate

    Niall Ferguson poked a hornet’s nest Sunday with his Newsweek cover story, in large part for its claim that Obamacare would increase the budget deficit. “Anyone who actually read, or even skimmed, the CBO [Congressional Budget Office] report knows that it found that [Obamacare] would reduce, not increase, the deficit,” … More

    Indonesia Could Teach U.S. Some Fiscal Responsibility

    On July 11, German Chancellor Angela Merkel praised Indonesia as a model of government debt management. In absolute terms, though, Indonesia’s government spending and government debt has steadily increased. Indonesia’s robust fiscal standing comes first from economic growth with some help from controlling fuel subsidies. Indonesia’s government debt declined from … More

    Of Course Higher Taxes Slow Growth

    In The Wall Street Journal on Tuesday, Peter Diamond and Emmanuel Saez present a rambling defense of higher taxes on the rich to fund an engorged federal government. That they needed to throw out so many tired and errant arguments shows their entire argument is so much hot air. Of … More

    Food Stamp Participation the Highest Ever...and Growing

    The number of Americans on food stamps (or, as it is now called, the Supplemental Nutrition Assistance Program, or SNAP) is higher than ever before, according to a new Congressional Budget Office report. Since 2007, rolls have grown by 70 percent. And participation rates are expected to increase over the … More

    Morning Bell: The Bloated Government of America

    The General Services Administration blew through $820,000 in taxpayers’ money in a lavish ”team building” trip to Las Vegas, and President Barack Obama is “apoplectic” at the news, according to the president’s campaign advisor, David Axelrod. Obama, he says, has devoted his efforts to saving “tens of billions of dollars” in … More

    Morning Bell: The Governing Class and Us

    In a speech yesterday in Elyria, Ohio — a small town just outside Cleveland sitting at the forks of the Black River — President Barack Obama delivered a politically charged speech in which he hearkened back to the country’s roots, saying that his opponents “don’t seem to remember how America … More

    Chart of the Week: Obamacare's 17 New Taxes

    Americans who feel overtaxed already are in store for a shocker: Obamacare will add 17 new taxes or penalties for a whopping cost of $502 billion over its first 10 years. This week’s chart illustrates the new taxes and offers a year-by-year rundown of their annual costs. These taxes will … More

    The Ideology of Isolationism

    Supporters of Ron Paul have re-launched an old ad promoting the old idea of American isolationism.  “We now are a nation known to start war,” Paul is quoted as saying.  “We feel compelled because of our insecurity that we have to go over and attack these countries to maintain our … More

    VIDEO: Why Obama's Stimulus Failed

    President Obama’s economic stimulus was supposed to revive America’s economy and put people back to work. But nearly three years after Democrats rammed the bill through Congress, it’s a clear-cut failure. The nation’s 8.6 percent unemployment rate stands out as one of consequences. Then there is the high-profile Solyndra scandal … More