On March 12, the House Budget Committee released its Fiscal Year 2014 Budget Resolution “The Path to Prosperity: A Responsible Balanced Budget”. A key provision in the proposal is the “Safety Net Strengthened” (p. 25). Using reform of Aid to Families with Dependent Children (AFDC) as a model when “Bipartisan efforts in the late 1990s […]
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President Obama: There Is No Debt Crisis!
14 Mar 2013
That’s the headline of this report from ABC News. Today, the U.S. National Debt is $16.7T, whereas our 2012 GDP was $15.6T, or our debt/GDP ratio is 107%. Economists Carmen Reinhart and Ken Rogoff have shown that when debt levels are greater than 90% of GDP (for advanced economies), economic growth slows. EDIT Jun ’13: […]
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Steve Horwitz has a great counter to the income inequality debate, see here: HT to Don Boudreaux over at Cafe Hayek. For Christian thinkers, is there a biblical justification for concern over income inequality per se? I’m not talking about the poor here; simply does the Bible have anything to say in a negative sense […]
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As we approach the impending sequestration, Mark Smith highlights the political tales of woe if it goes through (see below). But there seems to be an inconsistency in the “We’re all Keynesians now” Washington D.C. crowd. If you recall the fiscal cliff, President Obama proposed increased taxes that would only generate ~$80 Billion of additional […]
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Sequestration Nation…
27 Feb 2013
I only wish they had chosen a better name than “sequestration.” How do you write a ditty with that? Regardless, we are all gripped with Sequestration Fever, a malady that often follows on the heels of Debt Ceiling Dropsy and Fiscal Cliff Cough. We are now just a few days from either the end of […]
Bert Wheeler
Jeff Haymond
Marc Clauson
Mark Caleb Smith
Tom Mach