Taxes and Spending

It’s official: the Department of Treasury is now issuing debt at pandemic levels. It’s worth noting the pandemic record was double the previous record, which had stood for 231 years.

The Ludwig von Mises Memorial Lecture. Sponsored by Yousif Almoayyed.

Many economic think tanks espouse that national defense spending benefits Americans at large. It doesn’t. The notion that military spending "bolsters" the economy is yet another Keynesian fable.

As the federal government's debt approaches $35 trillion, default one way or another is inevitable. Many US states already have used that method to eliminate their debts.

It is not surprising that some US states are facing large deficits between budgeted spending and incoming revenues. However, state bankruptcies occur when states cannot meet their bond obligations, which have little to do with operating expenses.

Many economic think tanks espouse that national defense spending benefits Americans at large. It doesn’t. The notion that military spending "bolsters" the economy is yet another Keynesian fable.

School choice would seem to have benefits, but as Thomas Sowell says: “There are no solutions. There are only trade-offs.” Enthusiastic “school choice” proponents forget that with government money comes government control.

How did he do it? Easy: he cut a host of central government agency budgets by 50% while slashing crony contracts and activist handouts.

As the federal government's debt approaches $35 trillion, default one way or another is inevitable. Many US states already have used that method to eliminate their debts.

Ryan and Tho talk with Jane Johnson about why the feds will never pay down the debt.