Budgets (page 257)

  • Post

    New Carolina Journal Online features

    This week’s Carolina Journal Online Friday interview features a conversation with Troy University economist Scott Beaulier about the key ingredients of economic freedom. Joseph Coletti’s guest Daily Journal presents a case against the death tax — which just returned from the dead.
    Mitch Kokai, March 25, 2011
  • Post

    Government consolidation: If it’s good enough for the Tar Heel State …

    We don’t know whether the talk of consolidating North Carolina government departments played any role, but U.S. Sen. Richard Burr has announced his support for similar moves at the federal level, according to U.S. News & World Report: For years, Republicans have talked about dismantling the…
    Mitch Kokai, March 23, 2011
  • Post

    ‘Job creation’ and rail

    The latest talking point parroted by the Left in its campaign to secure (borrowed) federal dollars for high-speed rail in North Carolina is that the project would create 4,800 jobs, and that blocking the funding would destroy those illusory jobs. (As an example, here’s a tweet from Raleigh…
    Rick Henderson, March 23, 2011
  • Post

    GOP to Perdue: Please leave a few pennies for our grandkids

    Rep. Ric Killian, R-Mecklenburg, is introducing legislation ordering the state Department of Transportation to reject any offer of “money” from Washington to build high-speed rail unless the project has been approved by the General Assembly. (Money quote from the N&O: The improvements will cut a projected 13 minutes from…
    Rick Henderson, March 22, 2011
  • Post

    Sowell returns to the lessons of basic economics

    This reader had toyed with the idea of skipping the fourth edition of Thomas Sowell’s Basic Economics, having read the third edition four years ago. That would have been a mistake. Having just completed the nearly 700-page updated version of Sowell’s “common-sense guide to the economy,” one is reminded of the many ways in which an ignorance of economics — willful or otherwise — plagues public policy in the United States and abroad. Near the end of the book, Sowell offers one of his recurring nuggets of wisdom. He starts with a discussion of the misuse of common terminology: [S]loppy use of terms often occurs in media and political discussions of taxation. For example, the growing federal deficits of the 1980s in the United States have often been blamed on the “tax cuts” early in that decade. But, although tax rates per dollar of income were cut, the total tax revenues of the federal government were higher in every year of the 1980s than in any previous year in the history of the country, as a result of incomes growing by more than the tax rates were cut. It was increased spending which led to growing deficits — a fact concealed by sloppy use of the word “taxes,” which can refer to either individual tax rates or the total tax revenues of the government. Many economic fallacies depend upon (1) thinking of the economy as a set of zero-sum transactions, (2) ignoring the role of competition in the marketplace, or (3) not thinking beyond the initial consequences of particular policies.
    Mitch Kokai, March 21, 2011
  • Post

    Bring on the honest debate

    James Poniewozik offers a critique in the latest TIME of James O’Keefe’s recent hit piece on NPR. For the purposes of this entry, we’ll ignore the shaky argument that O’Keefe’s selective editing differs substantially from most of what runs daily in the New York Times. Instead,…
    Mitch Kokai, March 21, 2011
  • Post

    Rubio and the ‘terrible way to run government’

    Freshman U.S. Sen. Marco Rubio, R-Fla., is among those members of Congress who are sick of the series of continuing resolutions put forward as alternatives to a new, more scaled-back federal budget. As Human Events reports: One Republican who had the courage to lay off the sauce this time was Senator Marco Rubio of Florida. “Today’s vote, first of all, should remind us of how we got here. Why are we funding government in two or three week increments?” he asked in a press release, after voting against the latest CR. “It’s because Democrats, when they ran the House, the Senate and the White House, didn’t pass a budget… But more importantly, this is a terrible way to run government. We are facing some serious issues in America today, particularly the fact that we are borrowing $4 billion a day to keep the lights on and particularly the fact that we owe $14 trillion and growing. It’s time to face those issues in a serious way. The time for waiting is over. The time for games has passed.”
    Mitch Kokai, March 18, 2011
  • Post

    N.C. “Blue Dogs” vote to keep NPR on the taxpayer gravy train

    Following up on yesterday’s post, The Corner reports the U.S. House voted 228-192 (with one “present”) to defund National Public Radio. Of interest, the roll call shows the Tar Heel State’s so-called centrist Democrats, Mike McIntyre (7th District), Larry Kissell (8th), and Heath Shuler (11th) all supporting…
    Rick Henderson, March 17, 2011