Tag Archives: debt

What’s the Real Federal Debt?

Posted on August 10, 2012 by Dr. J

$222 trillion? That’s the “fiscal gap” as recently published by the Congressional Budget Office. The fiscal gap is the most realistic long-term budget forecast that the CBO can make (and it’s known for using rosy assumptions about U.S. economic health). … Continue reading →

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Scary Debt Analysis

Posted on July 20, 2012 by Dr. J

Thanks to my reading and teaching schedule, I’ve been unable to post much on current events the past couple of months. However, I simply must post a link to this interview with former White House budget director David Stockman. Stockman … Continue reading →

Posted in Current Events, Economics | Tagged , , , | 4 Comments

Henry Hazlitt’s “Economics in One Lesson”

Posted on July 14, 2012 by Dr. J

[This review originally appeared in the Spring 2012 issue of the Journal of Faith and the Academy.] Hazlitt, Henry. Economics in One Lesson. Baltimore: Laissez Faire Books, 2012 [1946]. 181 pp., paperback, $14.95 (ebook $9.00). Ordinarily, the reissuing in paperback … Continue reading →

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Taxing and Spending

Posted on June 1, 2012 by Dr. J

In Chapter 16 of Foundations of Economics Shawn Ritenour gives a detailed discussion of the economic impact of taxation and government spending. Government participates in the monetary economy because it is the most efficient way for it to secure the … Continue reading →

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Shocking Facts About U.S. Government Debt

Posted on January 12, 2012 by Dr. J

Every time I think I have finally gotten some real conception about the size of the debt mess our government has created over the last few decades, something comes along to prove me wrong. This time it was a post … Continue reading →

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The Welfare State: A Sinking Ship

Posted on December 7, 2011 by Dr. J

Washington Post columnist Robert Samuelson has laid out some uncomfortable facts that need to sink in with our policymakers before they do anything else stupid. In “The Welfare State’s Reckoning,” Samuelson points out that Americans who are currently scoffing at … Continue reading →

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9 Traffic Cops for 960 People?

Posted on September 22, 2011 by Dr. J

I haven’t posted on the debt problems in Europe in a while, but the continent is still in a slow-motion train wreck. Yields on one-year Greek bonds are over 100% now, a clear signal that the country is going to … Continue reading →

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S&P Downgrades U.S. Government

Posted on August 5, 2011 by Dr. J

It was inevitable, wasn’t it? On Friday evening Standard and Poor’s confirmed what everyone already knew to be the case: the U.S. government isn’t as good a credit risk as it used to be. No more AAA credit rating, which … Continue reading →

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Look at the Size of Them Thar Cuts!

Posted on August 3, 2011 by Dr. J

I find that all sorts of momentous things were happening around the world while I was out of commission on the blogging front: another Greek bailout, political upheaval in Turkey, and a madman shooting up Norway, to name a few. … Continue reading →

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A Real Balanced Budget Proposal

Posted on May 21, 2011 by Dr. J

When a budget like Rep. Paul Ryan’s, which has us racking up trillions more in debt over the next few years, is denounced as draconian and radical, you know there’s no connection between rhetoric and reality in Washington, D.C. Presumably … Continue reading →

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