Stealing from Our Children

Massive government debt is justified on many grounds, often by highly-credentialed, well-educated, respectable people of good faith and character. The opposite, however, is often proposed by people with the same characteristics. Those qualities don’t, by themselves, impart upon them the prize of ultimate truth. Government finances certainly are complicated, but Continue Reading →

Spending Versus Investment

The economic justification for government spending usually falls into one of two categories. The first is that projects such as the Erie canal in the 1800s or the present interstate highway system have obviously helped the development of a prosperous society. They were done by the government, so therefore, all Continue Reading →

Mixed Signals From the Market

Seven long years after the burst of the bubble economy, unemployment is finally below 6%. Corporate profits are high and the stock market is up. It looks as though everything is peachy, economically speaking. Or does it? Some things just don’t add up. While unemployment declined, the percentage of the Continue Reading →

If We Can Send a Man To The Moon…

Putting a man on the moon was a pretty big accomplishment. It was the culmination of the work of brilliant scientists, engineers, and countless others at a time when astronauts used slide-rules for routine onboard calculations. It was also expensive-very expensive. It was the most costly peacetime project in the Continue Reading →

Does Government Spend Enough?

The solution to the problems in America is for government agencies to spend more money. At least that seems to be the widely held belief. From Keynesian stimulus packages to the War on Poverty, whenever something doesn’t work like the planners intend, it is only because not enough money was Continue Reading →