Statistically, a federal employee is more likely to die than to quit. They are so pampered with lavish pay and benefits that they report substantially higher levels of job satisfaction than do workers in the private sector. A new Gallup poll finds that 82 percent of government workers are fully satisfied with their retirement plans …
Category: Government’s reckless spending
Sep 15
Illinois: a failed state
Writer and economist Stephen Moore, a native Illinoisan, writes that: * Nearly one of three state tax dollars in Illinois now goes to paying pensions for retired municipal and state employees. * The Illinois government recently announced that its treasury had insufficient funds to pay off the State’s lottery winners. * Illinois was the home …
Aug 04
Democrats push for higher taxes while Republicans do not appear to be pushing for lower taxes
The two major American “political parties” are largely two sides of the same coin: they both trust and support expansive and intrusive government. Polling has consistently shown that American voters–often by supermajorities–view their own taxes as too high. See here. The average American, when asked, states that the U.S. government wastes 51 cents of every …
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 …
Aug 02
Federal Reserve Keeps Interest Rates at Near Zero for 2,417 Consecutive Days
If you save anything in modern America, you are an utter fool. The Federal Reserve has kept its key interest rate at near zero (0) for 2,417 consecutive days in an attempt to keep the U.S. economy appearing to be afloat. See here. Savers are being punished severely. If you keep any money in a …
Jul 15
Stossel: Greece has submitted to little or no true “austerity.”
The occasionally brilliant John Stossel is out with a good column. Stossel attended Freedomfest in Las Vegas recently and learned about countries such as New Zealand and Canada, which saw their economies greatly improve after cutting government spending. Greece, however, has been in the news for years, unable to stay afloat financially. Greece recently defaulted …
Jul 13
The U.S. is now among the highest-taxing nations.
The United States, once the world’s flagship of capitalism, low regulation and free markets, has entered the category of a high-taxing society. Here is a website that generally provides the average tax rates of the world’s countries. Notice that the U.S. is now taxing its citizens at rates above the North American average, the Western …
Jul 11
U.S. Debt will Soon be more than 100 Percent of annual GDP, Official Warns
The U.S. national debt is now so large that it constitutes 74 percent of America’s annual Gross Domestic Product (GDP). Not since World War II has this percentage been so high. And today’s debt is not so much the product of a worldwide war but of the constant deficit spending required to pay for American …
Jul 10
There have been no “austerity” measures in Greece or in any other European country.
The word “austerity” has been in the news a lot lately. Austerity means cuts in government payroll or other spending. Trusters of government like to claim that “severe” (Paul Krugman) or “harsh” (the Guardian) austerity measures are being imposed on the people of Greece, or maybe in some other European country. The truth is that …
Jul 09
Britain proposes fiscal restraint
Socialism is a curse that should be wished only on one’s enemies. Any society that embraces it will become sick and weak. In the wake of the default of Greece and the loss of one-third value of the Chinese stock market, world financial advisers appear to be proposing some rare fiscal restraint. In Britain, the …
