Spending Cuts Would Dishonor U.S., Obama Says | The Freeman | Ideas On Liberty

Spending Cuts Would Dishonor U.S., Obama Says | The Freeman | Ideas On Liberty: "“President Barack Obama Wednesday argued that budget cuts that choke spending on clean energy and education would dishonor US history"

What?!?!

How to Create Jobs Now | Richard W. Rahn | Cato Institute: Commentary

How to Create Jobs Now | Richard W. Rahn | Cato Institute: Commentary: "In essence, they are fixated on the old Keynesian idea that government spending can create jobs. Milton Friedman, F.A. Hayek, and many other Nobel Laureates and other fine economists, such as Harvard's Robert Barro, have demonstrated that the concept is dead wrong and neither works in theory or practice. Yet, because it gave politicians a rationale to spend more of other people's money, it is a bad idea that has never died."

"'in economies open to trade or operating under flexible exchange rates, a fiscal expansion leads to no significant output gains. Further, fiscal stimulus may be counterproductive in highly-indebted countries; in countries with debt levels as low as 60 percent of GDP [gross domestic product], government consumption shocks may have strong negative effects on output.' Note the U.S. has a 68 percent debt-GDP ratio and it is rising."

"increases in government spending are associated with lower levels of employment and vice versa."

"The Crains' report also showed that regulatory costs are about 36 percent greater for small firms (the big job creators) than for large firms ($10,585 per year versus $7,755). Regulation is a hidden tax on both employment and productivity growth. Much regulation does not even come close to meeting reasonable cost-benefit tests."

Real Cuts for the Debt Vote | Chris Edwards | Cato Institute: Commentary

Real Cuts for the Debt Vote | Chris Edwards | Cato Institute: Commentary: "There are only two types of cuts that are 'real': legislated reductions in entitlements and complete terminations of discretionary programs. Once enacted, those types of cuts have the best chance of shrinking the government permanently."

ACO Debacle Exposes Obamacare's Fatal Conceit | Michael F. Cannon | Cato Institute: Commentary

ACO Debacle Exposes Obamacare's Fatal Conceit | Michael F. Cannon | Cato Institute: Commentary: "For nearly five decades, Medicare regulations have financially penalized doctors who coordinate care. The Medicare Payment Advisory Commission reports that Medicare regulations are 'largely neutral or negative towards quality' and sometimes pay providers 'even more when quality is worse,' like when poor coordination injures Medicare patients.

Obamacare supporters say the solution to this failure of centralized economic planning is ... more centralized economic planning."

"When purchasing health care, the government should do what it can to improve quality while reducing costs. But this latest debacle once again demonstrates that for all its immense purchasing power, Medicare is paradoxically powerless to do so. Why? Because greater efficiency necessarily means that low-quality/high-cost providers will get less money, and those providers all hire lobbyists to protect their Medicare subsidies.

Inefficient providers have effectively killed nearly every pilot program that previous administrations promised would make Medicare more efficient."

Magnifying Calamity with Man-Caused Disasters | Michael Giberson | Cato Institute: Commentary

Magnifying Calamity with Man-Caused Disasters | Michael Giberson | Cato Institute: Commentary: "Price-gouging laws usually apply during emergencies. They are meant to help consumers. Unfortunately, the laws interrupt actions by consumers and businesses that would promote recovery.

Higher prices encourage consumers to be especially careful with goods that have become especially useful. Higher prices encourage retailers and wholesalers to go to extraordinary efforts to bring goods consumers need into disaster-struck areas.

A law that keeps prices low discourages these responses and leaves more disaster-recovery work for charities and government agencies."

Ten Charts that Prove the United States Is a Low-Tax Country

Ten Charts that Prove the United States Is a Low-Tax Country: "We don’t have this problem because we tax too little. We have it because we spent too much.”

It’s a popular talking point, but it simply isn’t true. Deficits do not stem from spending levels alone."

While it is true that deficits are a mismatch between revenue and spending, historically low tax rates don't mean that spending isn't a much bigger problem. Historically and comparatively low tax rates don't prove that tax rates are lower than they should be. Also, the article fails to consider the "inflation tax".