Total public debt reached $34,001,493,655,565.48 at the end of 2023, with over $2.5 trillion added since the end of 2022. The U.S. Treasury reported $6.1 trillion in outlays, but only $4.4 trillion in receipts for the 2023 fiscal year, resulting in a deficit of almost $1.7 trillion. Figure 1: Cumulative receipts and outlays of the U.S. government
About a month ago, I called out Paul Krugman for blaming economic pessimism on Republicans. He compared the University of Michigan Consumer Sentiment Index to what he sees as a “surreally good” economy and came to the conclusion that the survey respondents must be warped by partisanship. Instead of honestly reporting about their views about the
Price inflation statistics were a hot topic in 2023. Official measures, like the Personal Consumption Expenditures Price Index (PCE) and the Consumer Price Index (CPI), rose to levels not seen in over four decades. These measures were under commentators’ microscopes as recently as last week. The FRED Blog (run by the St. Louis Fed) briefly
The Babylon Bee advertises itself as “Fake news you can trust.” The outlet produces the best satirical news, and this is especially true ever since big Democrat donors acquired large stakes in The Onion and turned it into the comedic equivalent of FDA-approved fiber cereal. At least it keeps us regular ly updated on the fact that The Left Can’t
Proponents of modern monetary theory (MMT) are back in action after a quiet spell during the embarrassing (for them) record price inflation of 2021–23. They are here to tell us that the mountain of government spending and debt is nothing to worry about; the government’s red ink is the private sector’s black ink, they say. Private sector growth
Paul Krugman is desperate to declare victory over inflation and that a soft landing has been achieved. His latest victory lap op-ed cites the Atlanta Fed’s survey of Business Inflation Expectations (BIE), which has settled down to 2.2 percent for the coming 12 months. The BIE reflects about 200 Atlanta-area business executives’ responses to survey
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Mises Institute Fellow Jonathan Newman to discuss economic fake news, featuring a cameo by Taylor Swift and Selena Gomez. Also, sign up today for our special Radio Rothbard raffle for a free entry into our 2024 Human Action Conference, celebrating the 75th anniversary of
Jordan Klepper: You need to-- you know what you need to do? You need to take some-- some THC or some DMT and let the MMT just wash over you. Let the paradigm shift come to you, Ronny Chieng. Ronny Chieng : Yeah, I think I’m in it right now. Klepper: I think you’re in it. Stephanie Kelton appeared on The Daily Show to promote her documentary,
“Ludwig von Mises was a true genius and we can certainly see that on display in his magnum opus, Human Action . The book is cohesive, thorough, and systematic and yet each sentence, paragraph, and page is pregnant with opportunities for scholars to expand and clarify.” Presented at the 2024 Human Action Conference on Saturday, 18 May 2024, at the
Ludwig von Mises’s Economic Policy: Thoughts for Today and Tomorrow has become quite popular recently. The Mises Book Store has sold out of its physical copies, and the PDF, which is available online for free , has seen over 50,000 downloads in the past few days. This surge in interest in Mises’s ideas was started by UFC fighter Renato Moicano,
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.