Chris Edwards

TFSAs Spur Canada Savings Revolution

A tax reform is spurring a savings revolution in Canada. Amity Shlaes and I wrote about Canada’s Tax-Free Savings Accounts (TFSAs) in the Wall Street Journal in August. We think that such accounts would be a fantastic policy reform for America. They would simplify the taxation of savings, encourage families to save more, and spur stronger economic growth.

Accuracy of Macroeconomic Forecasts

One of my first professional jobs 25 years ago was with the economic forecasting firm DRI/McGraw-Hill. It was fun work, but I noticed that the firm’s gross domestic product forecasts with models hundreds of equations long were no better than simple forecasts based on the interest rate yield curve.

Department of Homeland Security: Who Needs It?

The Secret Service is scandal prone. It spends excessively on foreign presidential trips, and it has agents who get in trouble with prostitutes and 

Centers for Disease Control Spending

In an editorial today, the Wall Street Journal discusses Democratic complaints linking Ebola with supposedly falling spending on the Centers for Disease Control (CDC). Let’s take a look at the data with the Downsizing Government chart tool. Click open Health and Human Services, then click on CDC. Hold your mouse over the line to see the data.

A Review of America’s Fiscal Constitution

When politicians write policy books, they are often shallow affairs full of party talking points. Bill White’s America’s Fiscal Constitution is different. It is an excellent and scholarly book.

Government Crowding Out, USPS Style

This is a really bad policy idea: the U.S. Postal Service wants to get into the grocery delivery business. Economists will sometimes support government interventions in industries where there are serious market failures. But with grocery delivery, private businesses are already performing the service, and no market failure is evident.

The Federal Government and American Indians

As research for this essay on the Bureau of Indian Affairs, I visited the Smithsonian National Museum of the American Indian (NMAI). I found virtually no information useful for my project.

Reagan and the Air Traffic Controllers

An obituary in the Washington Post for Robert Poli provides a chance to look back at a decisive moment in Ronald Reagan’s presidency. Poli was the head of the militant Professional Air Traffic Controllers Organization (PATCO), which launched an illegal strike in 1981. The Post describes the significance of the action:

Secret Service Spending

Another federal agency has screwed up. This time it is the Secret Service, which almost allowed an intruder to make a surprise visit on the Obamas. The Washington Post reports:

The Naked Truth about TSA Spending

Governments tend to spend money on low-value activities because they do not have market signals or customer feedback to guide them. In this report, I examined the problem with respect to the Transportation Security Administration. As one example, TSA’s SPOT program for finding terrorists spends more than $200 million a year with few if any benefits.

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