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Fixing Infrastructure Isn’t as Simple as Spending Another Trillion Dollars
Fixing Infrastructure Isn’t as Simple as Spending Another Trillion Dollars It isn’t easy to add new subway lines or new highways, and so “solutions” don’t really exist. If there’s one thing Americans can still agree on, it’s that America needs to spend more on infrastructure which is visibly falling apart in many places. This capital […]
Italy’s Countdown to Fiscal Crisis
Italy’s Countdown to Fiscal Crisis Italy’s current scheme of piling unfunded government spending on top of an already-huge debt is a recipe for disaster. As a general rule, we worry too much about deficits and debt. Yes, red ink matters, but we should pay more attention to variables such as the overall burden of government spending and the […]
Whatever Happened to Saving for a Rainy Day?
Michael Brochstein/SOPA Images/LightRocket via Getty Images Whatever Happened to Saving for a Rainy Day? The US will be paying for its current fiscal excesses with the promise of future payments. But inefficient economic stimulus now will not give future generations the productive resources needed to make good on it. CAMBRIDGE – More than a decade […]
Rising Economic Head Winds
Rising Economic Head Winds Remember the “tea party” revolt in 2009–2010 against government bailouts and government spending? Remember the “fiscal cliff” drama of Dec. 31, 2012, when Congress raised taxes and cut spending to avoid a debt default and government shutdown? Remember the actual government shutdown in October 2013 as Republicans held the line against […]
When America’s Fiscal Crisis Hits, Be Forewarned that Tax Increases Will Make a Bad Situation Worse
When America’s Fiscal Crisis Hits, Be Forewarned that Tax Increases Will Make a Bad Situation Worse When America’s fiscal crisis hits, remember that raising taxes will only exacerbate the problem. At some point in the next 10 years, there will be a huge fight in the United States over fiscal policy. This battle is inevitable […]
Does Government Spending Create More Economic Growth?
Does Government Spending Create More Economic Growth? After the 2007-2009 global financial crisis, fears of ballooning public debt and worries about the drag on economic growth pushed authorities in some countries to lower government spending, a tactic that economists now think may have slowed recovery. Note that in the United States the total debt to […]
Federal books in $2.8B deficit over first four months of fiscal year
Federal books in $2.8B deficit over first four months of fiscal year Ottawa ran $1.8B deficit in July Between April and July of this year, federal revenues were $2.3 billion lower compared with last year, while program expenses were $6.5 billion higher. (Adrian Wyld/Canadian Press) New numbers released Friday show the federal government ran a […]
Can We Grow Out Of Our Problems If We’re Not Actually Growing?
Can We Grow Out Of Our Problems If We’re Not Actually Growing? The rationale for today’s easy money policies is pretty straightforward: Falling interest rates and rising government deficits will counteract the drag of excessive debts taken on in previous stimulus programs and asset bubbles, enabling the developed world to create wealth faster than it […]
Economics in one cheque
Economics in one cheque On December 1, 2005, Bill 43 “Alberta Resource Rebate Statutes Amendment Act” received Royal Assent in the Alberta Legislature enabling a one-time rebate to be paid to nearly all Albertans residents in Alberta on September 1, 2005 who had filed a 2004 tax return. The refunds were a product of a […]
Canada’s new deficit plan is trouble
Canada’s new deficit plan is trouble Yesterday Federal Finance Minister Bill Morneau announced the projected deficit for 2016-17 is now $18.4 billion. This amount does not include $10.5 billion in new spending promised by the Liberals during the election campaign. When the budget is delivered in one month’s time it is foreseeable the total deficit […]
