What Are the Dangers of Too Much Debt?
Published on Mar 20, 2012
Interest payments on U.S. government debt are three times spending in the Iraq and Afghanistan wars already, and that is with the lowest interest rate we have seen since the 1960s. A rise in interest rates would increase interest payments dramatically. What can the U.S. government do today to prevent a crisis from happening when interest rates go up?
___________________
We got to cut wasteful spending out of the government and here is another fine suggestion from the Heritage Foundation.
March 12, 2013 at 5:40 pm
Newscom
The massive spending bill, or continuing resolution, released by the Senate this week continues spending on programs which are inappropriate or wasteful and fails to adopt good policies in many areas. Here’s a rundown of some of the worst offenders in the Senate bill:
Consumer Product Safety Commission (CPSC). Unlike the budget passed by the House, the Senate bill seeks to restore government spending to fund the failed CPSC product safety database. CPSC decision making with respect to the database has previously been called “arbitrary and capricious” by the courts.
Since it was implemented in 2011, manufacturers have shown that the CPSC database is seriously flawed. The database allows the public to submit unproven claims of harm with the CPSC and gives manufacturers only 10 days to challenge these claims; however, the CPSC itself has final authority to publish reports of such claims, even if they are disproved by the manufacturer. The accuracy of the CPSC reports is thus seriously questionable, and is a one-stop shop for tort lawyers seeking new clients or seeking “evidence” for their current lawsuits.
Furthermore, last October, in Company Doe v. Inez Tenenbaum, a federal court in Maryland overturned a decision of the CPSC to publish a report as “arbitrary and capricious,” because the CPSC report was “misleading and fail[ed] to relate[] to the [manufacturer’s] product in any way.” Indeed, the CPSC database is a concrete example of government waste: It is a shame that the Senate bill seeks to restore government spending to publishing misleading claims that damage business growth and likely lead to additional frivolous lawsuits.
—Andrew Kloster, Legal Fellow
Chuck Asay’s New Cartoon Nicely Captures Mentality of Obama and His Economic Team
May 2, 2012 by Dan Mitchell
The third-most viewed post in the history of this blog, with more than 22,000 views, is this set of cartoons showing how the welfare state begins and how it ends.
A similar theme can be found in this great new cartoon from Chuck Asay.
And just in case you think Asay is being unfair, keep in mind that folks like Obama and Pelosi actually have claimed that more unemployment benefits is “stimulus.” Yes, you read correctly. Subsidizing unemployment is good for growth to these strange ideologues.
Asay’s cartoon is so good that it may dethrone my previous top choice. Though sometimes I am most impressed by this one showing why parasites shouldn’t kill their host animal.
I’d be curious to know which one all of you think is most effective.
And since Asay’s work is almost always worth sharing, you can find more of my top picks here, here, here, and here.
The Daily Hatch 