There is only one way to describe the fiscal mindset of those in the White House and in Congress who are proposing new federal budgetary expenditure and taxing increases in the trillions of dollars: a fantasy land of financial irrationality. The Biden Administration insists on additions to the already bloated American welfare state that will […]
For the last two years, the federal government has been legally at liberty to borrow any amount of money necessary to cover its deficit spending under the Bipartisan Budget Act of August 2019. Unless Congress extends this Act or raises the official debt limit, starting on August 1, 2021 Uncle Sam will only be able […]
Suppose you lent someone $100, and when they paid you back they only handed you, say, $99 or $80. Would you consider the borrower to have kept his promise and contractual obligation? Or would you think that he had cheated you out of a part of the money you had lent him in good faith? […]
Political paternalism – the belief that those in government possess more knowledge, wisdom, and ability to plan, guide, and direct various aspects of people’s lives better than those people themselves – comes in many forms. The American “progressive” movement is euphoric with being, once again, close to power with the new Biden Administration in the […]
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