Monthly Archives: July 2011

What could be wrong with “shared sacrifices”?

In this column, Sheldon Richman drives a stake through the heart of Obama’s demagoguery about the need for “shared sacrifice” in dealing with out debt crisis. When Obama talks about “shared sacrifices” he means that productive people should be forced to give up more of their earnings. That’s a foolish and unjust idea. But whatContinue Reading

Government Will Have to Pay for 1/2 of all Health Care Costs By 2020

A new government report estimates that, ”Total health care spending is expected to nearly double to $4.6 trillion in 2020, from $2.6 trillion in 2010. Health care spending per capita is forecast to increase to $13,708 in 2020 from $8,327 in 2010.” These kinds of estimations are made annually, but this is the first report that attempted to estimate theContinue Reading

Policymakers’ reliance on credit ratings

A recent column by Deven Sharma, president of Standard & Poor’s in the Financial Times raises the question of what the appropriate role of independent credit ratings should be in  policy making. Specifically, should policymakers rely mostly or exclusively on credit ratings to determine policy choices and direction? According to Mr.Sharma, allowing the anticipated reactionsContinue Reading

Was Milton Friedman right about a corporation’s social responsibility?

The late economist Milton Friedman is known for having suggested that a corporation’s social responsibility is to increase profits, with the proviso “so long as it stays within the rules of the game, which is to say engage in open and free competition without deception or fraud.” Roy Cordato analyzed that argument during a LegacyContinue Reading

The Old Fed was bad enough….

In his Freeman column today, Sheldon Richman writes about the powers that Ben Bernanke now has, enabling the Fed not just to create money and credit, but to engage in its allocation. He quotes Professor Jeffrey Roger Hummel, who has been studying the Fed for a long time: “Central banking is the new central planning.”Continue Reading

York says only one side has shown a willingness to compromise

Byron York‘s latest Washington Examiner article explores the relative willingness of Republicans and Democrats to compromise in the debt-limit debate. For the Tea Party Republicans who make up a significant part of the House GOP caucus, Boehner’s proposal is a significant retreat from “Cut, Cap and Balance.” Those who support the Boehner proposal, which isContinue Reading

Coburn’s history explored

Many conservatives have been scratching their heads as Oklahoma Sen. Tom Coburn has embraced the possibility of tax increases to help deal with the federal debt-limit dilemma. In profiling Coburn, the latest Newsweek reminds conservative readers of better days. In the autumn of 2005, before he’d been in the Senate a year, Coburn took toContinue Reading

Interesting thoughts from Juan Williams

Former John Locke Foundation Headliner Juan Williams offers Newsweek some thoughts about his association with Fox News and his liberal friends’ openness to opposing views. Have you taken heat from African-Americans who find you not “liberal” enough? People say, “Why are you airing dirty laundry? Why are you being supportive of a Bill Cosby?” DoContinue Reading