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Puerto Rico: Another Harsh Lesson about the Consequences of Violating Fiscal Policy’s Golden Rule

When I make speeches about fiscal policy, I oftentimes share a table showing the many nations that have made big progress by enforcing spending restraint over multi-year periods. I then ask audiences a rhetorical question about a possible list of nations that have prospered by going in the opposite direction. Are there any success stories […]

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The Economist and New York Times Channel Fox Butterfield on Keynesian Policy

Back in 2010, I described the “Butterfield Effect,” which is a term used to mock clueless journalists for being blind to the real story. A former reporter for the New York Times, Fox Butterfield, became a bit of a laughingstock in the 1990s for publishing a series of articles addressing the supposed quandary of how crime […]

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America’s Greek Fiscal Future

Last September, I wrote about some very disturbing 10-year projections that showed a rising burden of government spending. Those numbers were rather depressing, but a recently released long-term forecast from the Congressional Budget Office make the 10-year numbers look benign by comparison. The new report is overly focused on the symptom of deficits and debt […]

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Atlas Is Shrugging in Greece and Venezuela: Two Case Studies of Statist Failure

Over the years, I’ve had many arguments about economic policy with my statist friends. I put them into three categories. The completely unreasonable statists blindly assert, notwithstanding all the evidence around the world, that bigger government and more intervention are actually good for growth. The somewhat unreasonable statists acknowledge that bigger government and more intervention […]

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The Outcome of the Fiscal Fight in Greece and Implications for Spain, Italy, Ireland, Portugal, France, Belgium, Etc

There’s a big fiscal battle happening in Europe. The relatively new Greek government is demanding continued handouts from the rest of Europe, but it wants to renege on at least some of the country’s prior commitments to improve economic performance by reducing the preposterous burden of spending, regulation, and intervention. That seems like a rather […]

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Three Key Wild Cards for Public Policy in 2015

Four years ago, I put together some New Year’s Day Resolutions for the GOP. Three years ago, I made some policy predictions for the new year. But since I obviously don’t control Republicans and since I freely admit that economists are lousy forecasters, let’s do something more practical to start 2015. Let’s simply look at […]

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