The Real Trouble with the Birth-Control Mandate | John H. Cochrane | Cato Institute: Commentary

The Real Trouble with the Birth-Control Mandate | John H. Cochrane | Cato Institute: Commentary: 'The pre-existing conditions crisis is largely a creature of tax law. You don’t lose your car insurance when you change jobs.'

The Limits of Monetary Policy Call for Moral, Sound Money | James A. Dorn | Cato Institute: Commentary

The Limits of Monetary Policy Call for Moral, Sound Money | James A. Dorn | Cato Institute: Commentary: 'After expanding its balance sheet from less than $1 trillion before 2008 to nearly $3 trillion today, the Fed has had little impact on the rate of unemployment but has greatly altered the allocation of credit and distorted the yield curve. It is ironic that while Congress criticizes China for manipulating its exchange rate, little is said about the Federal Reserve's manipulation of interest rates and asset prices.'

'Rather than engaging in pure monetary policy to ensure long-run price stability and prevent erratic changes in nominal GDP, the U.S. central bank has engaged in fiscal policy by allocating credit to favored groups and thus politicized monetary policy.'

'Pegging the federal funds rate close to zero for another three years and twisting the yield curve to lower longer-term rates will continue to misprice credit, penalize saving, and encourage risk.'

Highway Robbery by Republicans | Michael D. Tanner | Cato Institute: Commentary

Highway Robbery by Republicans | Michael D. Tanner | Cato Institute: Commentary: 'Anyone still wondering why there is a disconnect between grassroots limited-government conservatives and the Washington establishment need look no farther than the latest highway bill currently making its way through Congress with support from Republican leaders in both houses.

The Senate version, SB 1813, would cost $109 billion over two years. The House bill, HR 7, which runs to 847 pages of pork and special-interest projects, raises the price tag to $260 billion, but extends it over five years, making it a couple billion cheaper on a year-by-year basis.

In theory, of course, the highway bill is supposed to be paid for out of the Highway Trust Fund. But according to the Congressional Budget Office, the Trust Fund, which is funded by the federal gas tax, will collect only $187 billion over the next five years, meaning that the House bill spends $73 billion more than it takes in.'

Burma Comes in from the Cold | Doug Bandow | Cato Institute: Commentary

Burma Comes in from the Cold | Doug Bandow | Cato Institute: Commentary: 'The Burmese people need investment and trade more than official development assistance, which has a dismal record of promoting sustained economic growth. Private capital would better encourage broad-based development and job creation, so desperately needed by one of the world’s poorest nations. Trade and investment also would strengthen the Burmese private sector, not government (through which most official “assistance” flows), helping to disperse power in a system characterized for decades by the dangerous combination of political and economic power.'

Iran evades US sanctions by paying with gold - CSMonitor.com

Iran evades US sanctions by paying with gold - CSMonitor.com: 'The sanctions have drastically cut its ability to obtain euro and dollar denominated financing, forcing Tehran to find alternative ways to pay for its imports.'

The Fed's Quasi-Fiscal Policies - David Howden - Mises Daily

The Fed's Quasi-Fiscal Policies - David Howden - Mises Daily: 'The Fed is seemingly less directly concerned with maintaining output, and more with keeping banks afloat'

'as the Fed bought low-quality assets to strengthen the banking system's balance sheet, it has increased the base money supply by almost 2 trillion dollars (or 250 percent)'

'inflationary pressures will appear if the Fed realizes a loss on its assets (which it has not had to do, as they remain largely unsold)'

'The Fed currently has about $800 billion worth of mortgage-backed securities included in its assets. Add to that $100 billion of federal-agency debt securities, not all of which are guaranteed by the federal government. Include roughly $35 billion worth of AIG assets still on the books, and the Fed has a sizable holding of inarguably low-quality assets.'

Unions ask Democrats in Walker recall to make veto pledge - JSOnline

Unions ask Democrats in Walker recall to make veto pledge - JSOnline: 'Falk, the former Dane County executive, has committed to restoring collective bargaining in the next state budget and vetoing the budget if those provisions come out, while at least three other candidates including Milwaukee Mayor Tom Barrett said they wouldn't commit to any one strategy to accomplish that.'

Attack of the Pork Hawks | Doug Bandow | Cato Institute: Commentary

Attack of the Pork Hawks | Doug Bandow | Cato Institute: Commentary: 'the Department of Defense spends most of its money to protect other nations, including those that are populous and prosperous. All together, the Europeans have a larger GDP and population than America and ten times the GDP and three times the population of Russia. South Korea has 40 times the GDP and twice the population of North Korea. Why is the U.S. taxpayer still paying for their protection, 67 years after World War II ended?

Even worse has been Washington's foray into militarized nation-building. The Balkans remains a mess nearly two decades after Washington intervened. The Iraq War weakened America and strengthened Iran. The U.S. has been trying to create a competent, honest, and democratic central government in Kabul for a decade. None of these missions advances U.S. security.'

'Like liberals spending on education, these right-wingers equate money with results. Thus bigger Pentagon budgets mean increased national security. Only it's not true: greater military spending is strategic waste on a grand scale.'

'Washington already has a thousand military installations around the world. The American navy is equivalent to that of next 13 navies combined, 11 of which belong to U.S. allies.'

'Washington spends as much as the rest of the world — and spends more, in real terms, than at any point during the Korean War, Vietnam War, or Cold War. America could spend less and still possess far larger and more capable forces than anyone else.'

'Reductions in military spending, we are told, would be "totally destructive" and "very dangerous to the survival of the country," would "destroy" the Pentagon, set America on a "perilous course," be "dangerous and irresponsible," leave America "in the greatest peril," "would decimate our military," threaten America's "national security interests," be "totally devastating," send "a very horrible message" to America's enemies, create the "threat of gutting national security," "break" the military, "invite aggression," cause "severe and irreversible impact," leave America "teetering on the precipice of disaster," cause "catastrophic damage," "put our national security on the chopping block," leave "a hollow force," "disarm the United States unilaterally," result in "American lives lost," fail "to provide for the safety and security of our country," and call "into question our nation's ability to remain a free people."

All of this from returning military outlays to 2007 levels.

The fundamental question is whether military spending should respond to the threat environment. Leading Republicans answer no: America must always and in every situation spend more.'

Intellectual And Policy Corruption | Richard W. Rahn | Cato Institute: Commentary

Intellectual And Policy Corruption | Richard W. Rahn | Cato Institute: Commentary: 'The United States has dropped from No. 19 to No. 24 in Transparency International’s corruption index over the past three years. Reporters Without Borders‘ index shows an enormous drop in press freedom in the U.S. over the past three years, from a ranking of No. 20 to a dreadful No. 47.'

'Now, the Justice Department is requiring the Bank of America, as part of its settlement for alleged “lending discrimination,” to make large contributions to leftist groups that are not connected to the suit, including groups that are little more than renamed ACORNs.'

'You can identify some of the most intellectually corrupt in Congress, the media and the administration. They are the ones who are most vocal in railing against tax cheats yet fall strangely silent when the IRS cheats taxpayers by forcing them pay taxes on imaginary capital gains and interest because of government-caused inflation.'

MOMENT OF CLARITY: Fun Facts

MOMENT OF CLARITY: Fun Facts: 'So after benchmark-adjusting myself, I can report with a 90% confidence interval of /- 120, that I lost 60 pounds in January.� Sure beats working out…'