Today, President Obama announced that his administration would freeze the pay of federal employees at their current level for two years.� Well, that’s a start, if the following chart from Political Calculations showing the relative pay and benefits of federal workers with respect to the average income earner in the private sector is any…
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We are entering an era of high inflation, to judge by the massive growth of the money supply in the United States, Europe and Asia, and the stubbornness of central bankers who insist that high unemployment demands the creation of even more money. The last time the world went through a similar period was…
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The Government Cost Calculator has been recommended by Lee Doren at OpenMarket.org in “How Much Does Government Spending Cost.” With never-ending increases in government spending, citizens are often curious how much government actually costs them. In response to this question, The Independent Institute has launched MyGovCost.org, that features the personal government cost calculator to…
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The Economist provides an interesting video of Robert Rubin, among a panel of finance and economics experts, participating in a simulation of what a US State financial default might look like. HT: Jeff Hummel
In Slate, James Ledbetter reports that “Social Security’s disability insurance is expensive, destructive, and out of control.” “Throughout the year, economists and both houses of Congress have debated whether to extend unemployment insurance for another 13 weeks, or 26 weeks, worried that the payments would bloat the deficit or, worse, actually cause people to…
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Independent Institute Senior Fellow William F. Shughart II‘s new article, “We must cut taxes, curb spending and crimp regulations,” is being syndicated by McClatchy-Tribune Information Services to newspapers across the United States and Canada, including the Sacramento Bee, Lexington Herald-Leader, Standard Times (Bedford, MA), Bellingham Herald, Albany Times-Union, Guelph Mercury, Kitchener Record, etc. “The…
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