"Deficit Bias"

If anyone asks you about the “fiscal woes” facing the U.S., Japan and the EU, just say, “deficit bias.” The 13th Geneva Report on the World Economy explains “deficit bias…

Stormy Issues

For Hurricane Irene relief, the debate is again about the debt. Let’s start with the Congress. Expressed by Texas Representative Ron Paul, government should not play a role because “intrus…

Taxing Decisions

According to The Atlantic’s Megan McArdle, all of us should know about the Fallacy of Chesterton’s Fence before we decide how we feel about taxes. Picture a fence extending across a road. …

An Excellent Budget Plan

A debt reduction suggestion. Let’s use what the President’s budget commission suggests. Proposing legislation that will mandate restraint and discourage political opportunism, they are bip…

Debt Ceiling 101

During the month of August, if the U.S. hits its debt ceiling of $14.3 trillion and the Congress says, “No, you cannot borrow anymore,” then what will happen? During August, the U.S. will …

Bailout Fatigue

Yesterday, in a 94-0 vote, the U.S. Senate said it had bailout fatigue. No, they were not referring to Fannie Mae or General Motors. They meant Greece. This is the connection: By selling government se…

Looking at the Debt Ceiling

Today, at this moment, we might be hitting the debt ceiling. During the past 11 years, Congress has voted to raise the debt ceiling 10 times. In 2000, the ceiling was approximately $6 trillion; in 201…

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