According to the President’s Office of Management and Budget, the 2016 federal budget looks like this (p. 115): [table id=1 /] Now let’s pretend this is a household budget by removing eight zeros: [table id=2 /] Clearly, this family is financially irresponsible, as rising debt and debt-service costs consume the family budget. To continue…
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The fall 2012 issue of The Independent Review, our quarterly journal edited by Robert Higgs, is hot off the press! As always, The Independent Review deals with a wide variety of fascinating questions about economic policy, political and social theory, and intellectual history. To test your wits, try answering the questions addressed in the…
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How about this as an amendment to the Constitution of the United States? Amendment 28: Section 1: The president shall determine the dollar amount of total federal outlays prior to the passage of the budget.  Congress must allocate outlays to remain within this dollar limit. Section 2: The presidential budget cap can be exceeded…
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