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Government Spending

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The Federal Reserve recently increased interest rates to 1.75 percent. This is the highest interest rates have been since 2008, but it still leaves rates at historic lows. While the Fed says economic growth justifies future rate increases, an honest examination of the economy suggests that future rate increases are unlikely. The Fed’s claim that... Read More
The recently-passed big-spending budget deal’s failure to generate significant opposition from the “tea party” has led some to pen obituaries for this once-powerful movement. These commentators may have a point. However, few of them understand the true causes of the tea party’s demise.The movement commonly referred to as the tea party arose in opposition to... Read More
It’s deja-vu all over again, as baseball legend Yogi Berra might have said. The politicians and media are telling us the world is coming to an end because a “compromise” could not be made at the 11th hour to keep the Federal government in business.Republicans blame Democrats for the shutdown over their insistence on legislation... Read More
Last week President Trump urged Congress to reassert its constitutional authority to direct how federal agencies spend taxpayer dollars. Ironically, many constitutional conservatives and libertarians disagree with the president. The reason is, President Trump wants Congress to reassert its authority by bringing back earmarks.Earmarks are line items in spending bills directing federal agencies to spend... Read More
Texans affected by Hurricane Harvey, including my family and me, appreciate the outpouring of support from across the country. President Donald Trump has even pledged to donate one million dollars to relief efforts. These private donations will be much more valuable than the as much as 100 billion dollars the federal government is expected to... Read More
On Friday the House overwhelmingly approved a massive increase in military spending, passing a $696 billion National Defense Authorization bill for 2018. President Trump’s request already included a huge fifty or so billion dollar spending increase, but the Republican-led House found even that to be far too small. They added another $30 billion to the... Read More
This week, Congress passed a budget calling for increasing federal spending and adding $1.7 trillion to the national debt over the next ten years. Most so-called “fiscal conservatives" voted for this big-spending budget because it allows Congress to repeal some parts of Obamacare via “reconciliation." As important as it is to repeal Obamacare, it does... Read More
According to a recent poll, 73 percent of all Americans oppose increases in federal spending. Since this anti-government spending sentiment is a major reason Republicans control the House and Senate, one would expect the Republican Congress to hold the line on, or even cut, government spending. Yet, despite the Republican leadership’s rhetoric about "fiscal responsibility,"... Read More
The drama over Greece’s financial crisis continues to dominate the headlines. As this column is being written, a deal may have been reached providing Greece with yet another bailout if the Greek government adopts new “austerity” measures. The deal will allow all sides to brag about how they came together to save the Greek economy... Read More
Supporters of warfare, welfare, and Wonder Woman cheered last week as Congress passed a one trillion dollar “omnibus” appropriation bill. This legislation funds the operations of government for the remainder of the fiscal year. Wonder Woman fans can cheer that buried in the bill was a $10,000 grant for a theater program to explore the... Read More
Federal spending once again dominated the debate in Washington last week, as House Republicans and Senate Democrats began work on their ten-year budget plans. Contrary to claims, neither party’s budget reduces spending. While the Republican plan increases spending a little less than the Democrat plan, it would still spend $5 trillion in 2023, an almost... Read More
Despite what the media and politicians would have us believe, the United States did not collapse last Friday when the package of spending reductions known as “sequestration” went into effect. The financial markets hardly blinked, as they have come to be more skeptical about these periodic government-hyped “crises.” What had been portrayed as a drastic... Read More
Last week the Senate and House demonstrated again why their approval ratings are so low. The 154 page “fiscal cliff” bill was made available to Senators just three minutes before the vote was taken on the legislation. No one can read 154 pages in three minutes, so it is safe to assume that the legislation... Read More