COVID-19

Will Congress Repeat the Worst Blunder of the First “Stimulus” Bill?

A bipartisan Congressional group is eager to borrow and spend another $900 billion on a new COVID-19 bill. Yet they appear determined to repeat the most wasteful political stunt of the last “stimulus bill.”

Canada Fiscal Record Not Supportive of Keynesian Theory

Congress is debating another aid package for the states and private sector. Further aid for the states is a bad idea.

Yes, the National Debt Is Still a Problem. Always Was.

Cato adjunct scholar John Cochrane has written a great piece on “national debt denial,” which I recommend reading in full.

V‐​Shaped Recovery

The Bureau of Economic Analysis released estimates of third quarter gross domestic product (GDP).

Federal Spending Hits $6.6 Trillion

The Congressional Budget Office has released new estimates. Federal government spending jumped from $4.5 trillion in fiscal 2019 to $6.6 trillion in fiscal 2020, as shown in the chart below. That huge increase was financed by borrowing, the costs of which will land on taxpayers down the road.

Senate Is Right to Resist State Aid

Another week, another news story about supposedly imploding state‐local government budgets.

Repeal Local Restrictions to Revive Economy

The restaurant industry has been hit hard by the health crisis and recession.

Federal Aid Dwarfs the Fall in State Tax Revenues

The Wall Street Journal published a news story suggesting that public schools face ruin without more federal aid.

Stimulus Didn't Stimulate

Faced with an escalating pandemic in March, the President and most governors did not want to “stimulate” the private economy.

Spin in WSJ Budget Story

The Wall Street Journal has published a biased news story regarding state budgets.

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