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Educating Congress and Debunking the White House on the Debt Limit

Whenever there’s a fight over raising the debt limit, the political establishment gets hysterical and makes apocalyptic claims about default and economic crisis. For years, I’ve been arguing that this Chicken-Little rhetoric is absurd. And earlier this week I testified about this issue before the Oversight and Investigations Subcommittee of the House Financial Services Committee. […]

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More Arguments against the Value-Added Tax

The left is very clever about accepting “compromise,” so long as the result is a larger burden of government. This is one of the reasons why I’m so concerned about Senator Cruz’s proposal for a value-added tax. Even though he wants a VAT for good reasons (to finance lower tax rates and also to reduce […]

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Time for some Optimism on Entitlement Reform

If pessimism was an Olympic event, I used to think I might be favored to win a medal. After all, growing levels of dependency outside of Washington and rampant corruption inside of Washington sometimes lead me to conclude that America is doomed to a Greek fiscal future. But compared to some people, maybe I’m just […]

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Has Keynesian Economics Finally Jumped the Shark?

If everyone has a cross to bear in life, mine is the perplexing durability of Keynesian economics. I thought the idea was dead when Keynesians incorrectly said you couldn’t have simultaneously rising inflation and unemployment like we saw in the 1970s. Then I thought the idea was buried even deeper when the Keynesians were wrong […]

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Has Keynesian Economics Finally Jumped the Shark?

If everyone has a cross to bear in life, mine is the perplexing durability of Keynesian economics. I thought the idea was dead when Keynesians incorrectly said you couldn’t have simultaneously rising inflation and unemployment like we saw in the 1970s. Then I thought the idea was buried even deeper when the Keynesians were wrong […]

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The Simple Solution to America’s Deteriorating Fiscal Outlook

The Congressional Budget Office has just released its new 10-year fiscal forecast and the numbers are getting worse. Most people are focusing on the fact that the deficit is rising rather than falling and that annual government borrowing will again climb above $1 trillion by 2022. This isn’t good news, of course, but it’s a […]

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