Damaging Spending
Paul Ryan's Poverty Plan
The House Budget Committee chaired by Congressman Raul Ryan released a 204-page report on federal welfare programs Monday. It provides useful discussions of 92 programs that cost taxpayers $799 billion a year.
Folly of Federal Flood Insurance
Subsidized flood insurance is one of the many federal programs that is counter to both sound economic policy and sound environmental policy. Congress created the National Flood Insurance Program (NFIP) in 1968 to help homeowners in flood-prone areas purchase insurance. The FEMA-run program covers floods from river surges and storms on the seacoasts.
Fannie and Freddie Offset Reported Government Spending
The federal government took control of mortgage giants Fannie Mae and Freddie Mac (F&F) in 2008 and have bailed them out with $189 billion of taxpayer money.
Hyping Billions in Taxpayer Spending
In today’s issue of Nature, scientists from the National Ignition Facility (NIF) in California are trumpeting their advance in achieving fusion ignition. However, the National Ignition Facility is just like so many other projects from the Department of Energy. It’s behind schedule and over budget.
New SOTU Education Promises Just Like the Old SOTU Education Promises
What should President Obama have said about education policy in this year’s State of the Union address? In a more perfect world, he would have announced his plan to eliminate the U.S. Department of Education in order to restore control of education policy to the state and local governments where it constitutionally belongs.
Another Cost Overrun on Government Infrastructure
From the Wall Street Journal, here’s the latest evidence on quality and efficiency in government infrastructure spending
New Farm Bill Much Larger Than Last One
Congress is gearing up to pass the first big farm bill since 2008. The logrolling between farm interests is nearing completion, the Republicans have given up on making substantial food stamp cuts, and the Treasury stands ready to borrow another $1 trillion. We are all set to go.
Food Stamp Growth Continues, Despite Economic Recovery
As food stamp utilization escalated over the last several years, the program’s advocates assured us that there was nothing to worry about. Yes, more people than ever before were on food stamps, but that was just because of the recession. Once the recovery began and the unemployment rate declined, fewer people would need food stamps.
Flooding: Do Governments Make it Worse?
Both the economy and the environment are complex ecosystems. Governments often upset the natural balance and cause damage because they combine limited understanding with an excessive zeal to mandate and subsidize.
Why Is the Federal Government so Wasteful?
Wasteful spending is a fundamental problem with the way the government works. Private businesses can also make bad decisions, have cost overruns, and misallocate investments. But private markets have built-in mechanisms to minimize those problems, whereas the government does not.