President Washington famously warned against entangling alliances in his farewell address to Congress. But now more than ever, it seems that escalations across the globe are tempting the United States to become increasingly involved in other countries’ dilemmas. American citizens and legislators must remember part of what made the American experiment so unique and resist the temptation of interventionism. Here’s why…
Addressing the debt ceiling may have been pushed further down the road, but the root causes of America’s debt crisis need urgent attention.
Once again, the United States government is rapidly approaching a fiscal debt ceiling. After March 16, 2017, Uncle Sam is not legally allowed to borrow any more money to cover its budget deficits, unless Congress votes to raise the debt limit like it has every time in the past. Uncle Sam’s debt has been growing […]
The Congressional Budget Office (CBO) recently released the “The Budget and Economic Outlook: 2017 to 2027.” This annual report provides the federal government’s most comprehensive analysis of the current state of federal spending, taxes, and debt. It also provides a framework within which to analyze the President’s budget proposal and upcoming Congressional legislation. The news is […]
The defense budget is about to balloon again, but there’s no reason to assume we need more military spending.
Budapest has done the sensible thing and withdrawn from the competition to host the 2024 Summer Olympics. Finally a refutation of the standard point about economists – that the more united their view on a subject the less attention anyone else pays to them. For the truth about the Olympics is that they are a […]
Without substantive entitlement reform, it will be exceedingly difficult to address the country’s long-term fiscal problems, and it will only get harder if needed changes are delayed.
The first thing to clarify is what an interest rate is not.
The Pentagon suppressed a 2015 study exposing $125 billion—yes, billion—in administrative waste, over a five year period, in order to protect its own budget from being slashed.
If you missed Antony Davies’ Reddit AMA last week, fear not! We’ve taken the liberty of compiling some of the highlights for your viewing pleasure.
America can run trade deficits forever.
Local communities have a better understanding of their communities’ needs than far off centralized government anti-poverty directives.
Saturday, September 17th will be the five year anniversary of the beginning of the Occupy Wall Street protests. This week’s links cover the protests and what they did (or didn’t) accomplish. The Lasting Effects of Occupy Wall Street, Five Years Later Throwback: What Reason Saw at Occupy Wall Street Protests What Occupy Wall Street Got […]
Suspending driver’s licenses in the face of unpaid court costs is an ineffective way to force people to pay up.
Hundreds of thousands of college students graduated last month, and for many, their biggest concern is how to pay off their college debt. Americans currently hold $1.3 trillion in student debt—even more than they hold in credit card debt—and its preventing them from making investments, buying homes, and successfully meeting their financial obligations. That’s a […]
We all know government debt is bad for the young. But it’s also bad for the poor. Hurting the Kids to Help the Elderly The well-known political philosopher Loren Lomasky recently reminded us of why debt is bad for the young. We might be able to justify spending now, and borrowing to finance the spending, […]
What a difference just five years will make. The U.S. national debt reached $19 trillion. How can we grasp such an unfathomable number? Here at Learn Liberty, we’ve been trying to answer that question for years. In fact, our very first video attempted to contextualize the size of the then $14 trillion debt. With help […]
The Congressional Budget Office announced last week that the growth of the federal budget deficit will outpace the growth of the economy in 2016 for the first time since 2009. The drag this places on economic growth is hard to overstate, but what can be done to solve this problem for the future? Harvard University’s […]
Bernie Sanders and Hillary Clinton have never met a tax they didn’t like. They argue that it will balance the budget and act as though it was a silver bullet to the U.S. government’s fiscal woes. But will taxing the rich really fix the budget deficit? Professor Antony Davies tackles that question in this Learn […]
The economic and financial turmoil in Greece has been in and out of headlines frequently over the last few months. The Greeks claim austerity measures have only made things worse, while the EU claims Greece continues to fail the austerity measure put in place to receive future bailouts. In this video, we explain what has […]
Newly reelected Greek Prime Minister Alex Tsipras expects that by early 2017 Greece will be able to access bond markets, from which it has been virtually cut off since it lost investor confidence in 2010. If it is unable to meet this timeline, it will be forced to rely on further bailouts or go bankrupt. […]
Last week, Canada elected a new Liberal Prime Minister, Justin Trudeau, who has vowed to massively boost public spending and run several years of deficits, arguing that the “infrastructure deficit” is bigger than the fiscal deficit. He claims that such stimulus spending will spur economic growth. But in the video below, economist Stephen Davies looks […]
The New York Times came out with an article last weekend claiming how much good raising taxes on the country’s wealthiest could do: [W]hat could a tax-the-rich plan actually achieve? As it turns out, quite a lot… the government could raise large amounts of revenue exclusively from this small group, while still allowing them to […]