We Can’t Even Cut Programs That Don’t Work
Posted in Main Blog (All Posts) on August 11th, 2011 4:31 am by HL
We Can’t Even Cut Programs That Don’t Work
Steven Malanga, RCM
The prospect that Congress's proposed 12-member super committee might not do its budget-cutting job properly has provoked anxiety among the defenders of discretionary spending programs in the federal budget. The new budget deal provides that if this so-called “Super Congress” can't agree on some combination of entitlement cuts, tax increases and program reductions to slow the growth of the federal deficit, then spending cuts will kick in automatically, with half the cuts coming from non-defense discretionary spending.I've already read newspaper accounts about how…
The Criminals Who Shame Britain
Blame Statism, Not the Tea Party
Terence Corcoran, Financial Post
After two weeks of panic, fear and something called “pure fear,” global stock markets rebounded Tuesday and settled down. Exactly why is anybody’s guess. Maybe investors, whoever and wherever they are, just exhausted their supply of fear and decided to engage in a little exuberance, global debt crises be damned, while they restocked fear for another day.When markets go down rapidly, investors are caricatured as lunatics driven by dark forces. When markets go up, the same investors are often portrayed as rational responders to allegedly sound policy from some…
