Socialism is a curse that one should wish only on a hated enemy. All societies which embrace it become sick and weak. Gary North has a new column about the death of a major socialist city: Chicago. See here. “The four major employers in Chicago, in this order, are these: the federal government, the public …
Category: Government incompetence
Oct 06
Medicare’s promoters in 1965 promised the program would cut medical costs
When Medicare was enacted in 1965, Congress projected its costs into the future, and estimated that it would cost $3 billion dollars by 1990. Actual cost in 1990 was $98 billion. Today the program costs taxpayers more than $500 billion annually. Government officials consistently underestimate entitlement costs, refusing to recognize that medical entitlements artificially increase …
Oct 05
U.S. Postal Service Lost $5.5 Billion in 2014; Its Average Vehicle Gets 10 M.P.G.
The U.S. Postal Service lost $5.5 billion in 2014 and has lost many more billions over the past decade. Even as global trade, communications and shipping has skyrocketed, the Postal Service can’t operate efficiently. U.S. Postal workers are greatly overpaid. Hundreds, even thousands, apply for every opening. It might be said that the PRIMARY purpose …
Sep 19
In the wake of 9/11, the U.S. government falsely arrested thousands of innocent Americans
Under common law, any cop (or anyone else, for that matter) who arrested another person without probable cause to believe a crime was committed was AT LEAST liable for false arrest. (Actually, under 19th-century common law, actual guilt and not mere probable cause was the standard.) But after the 9/11 attacks in 2001, the U.S. …
Aug 14
Reason Magazine: When Government Gives Diet Advice, You Should Always Do the Opposite
Generally speaking, every government in the world seeks to increase its advantage over its subjects (and therefore, to increase the DISADVANTAGE of its subjects in comparison to the state). Thus, one should generally do the very opposite of what government advises–especially regarding investing or nutrition. For years, observers have noted that the government’s “food pyramid”–which …
Aug 09
Venezuelans resort to pet medications to survive
Socialism is a curse that one should wish only on a hated enemy. To adopt it is to set a course toward gradual poverty, sickness, weakness, pollution and disease. The only question is when. Venezuelans have voted for hard-line socialist politicians (such as the enigmatic Hugo Chavez) for decades. Venezuela has adopted “single-payer” (slave plantation) …
Aug 03
Puerto Rico outvoted government-cutting governor and enthroned an advocate of expansive government; Now Puerto Rico is Defaulting.
Today, August 3, 2015, Puerto Rico failed to make a $58 million dollar payment on its debt. See here. The defaulting commonwealth is some $70 BILLION in debt. But just a few years ago, Puerto Rico was on a path to economic growth and dynamism. Puerto Rican voters elected Luiz Fortuno as their governor in …
Jul 17
Report: Student Loan Program has Drastically Increased Tuition Costs while LOWERING the Proportion of Poor People in College.
Imagine a government program that achieves THE VERY OPPOSITE result of its intentions. This is the truth about every large government program. Social Security has impoverished seniors (and America) and transferred vast sums from poor people to rich people. See here, here, and here. Minimum wage laws increase unemployment and greatly harm poor people. See …
Jul 05
Obamacare Causing 20- to 50-Percent Annual Insurance Rate Increases.
If Americans only had the courage to do nothing, and unleash the power of capitalism on health care, prices would come quickly down so that the poorest consumers could afford quality health care. Hobos, bums and vagabonds could afford quality health care if the government got out of it. Just look at the telecommunications industry …
Jul 01
Greek Social Security checks are withheld from retirees as Greece defaults on national debt
Have you ever wondered about the future of American Social Security? What will happen when liabilities are larger than the credit of the country? A story today on Yahoo News revealed that retired Greeks who traditionally draw their government pensions in cash from their local banks are now finding that the banks only allow small …
