Reducing government spending results in an immediate increase in welfare for all productive members of the economy. But, the way we calculate economic growth is rigged to make it look like more government spending fuels economic growth.
The supply side matters. Fernández-Villaverde and Ohanian point out, “In short, incentives to hire, invest and start new businesses need to be a priority, lest the sclerotic U.S. economic growth of the past six years returns and, as in Europe, becomes a permanent condition.”
Those who voted for the omnibus to avoid a shutdown fail to grasp that the consequences of blindly expanding government are far worse than the cons
Those who voted for the omnibus to avoid a shutdown fail to grasp that the consequences of blindly expanding government are far worse than the consequences of a temporary government shutdown.
US National Debt now exceeds $18 Trillion with no end in sight. Will we see national default on the debt or hyperinflation?
If a customer consents to paying a certain price at the time of purchase, he cannot later claim that he was overcharged. The fact that he was charged the right amount is clear in the fact that he consented to the purchase in the first place.
DC budget spinners are at it again, claiming that deficits are melting away and the national debt is no big deal. In fact, debt and spending are just as out-of-control as ever, and if interest rates go up, we’re in deep trouble.
The most recent job report appears, on the surface, encouraging news for the U. S. economy.
Keynesian economics produces a dead end economy.
