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What Should the Republicans Do Now?

  An editorial in yesterday’s Wall Street Journal, “A GOP Shutdown Strategy”, offers good advice to the House Republicans for how to proceed in the shutdown stalemate.  “ …the best chance to move...

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Who Won and Who Lost in the Fiscal Stalemate?

The mainstream media are uniformly agreed that the Democrats and President Obama “won” the latest debt ceiling and shutdown standoff and that the Republicans “lost”.  For example, New York Times,...

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Nowhere to Cut?

After five years of enormous deficits, our national debt now stands at over $17 trillion.  The only spending restraint that Congress has been able to achieve so far is an approximately one trillion...

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The Floundering of America

  In yesterday’s Wall Street Journal, columnist William Galston talks about “The Floundering of America”.  Based on recent reports from the Congressional Budget Office, Mr. Galston says that “Today we...

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The Economic Outlook: 2014 – 2024 I. The Basic Data

  The Congressional Budget Office has just issued the report ”The Budget and Economic Outlook: 2014 to 2024”, giving its usual objective and nonpartisan look at our prospects for the next ten years....

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Why Debt Matters

  The House Committee on Financial Services recently held a hearing on the topic “Why Debt Matters.” One of the speakers was David Cote, CEO of Honeywell International. He pointed out that the...

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The Government We Deserve II. How Do We Make It Better?

  “When the Athenians finally wanted not to give to society but for society to give to them, when the freedom they wished for most was freedom from responsibility, then Athens ceased to be free.”...

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The Big Picture on Debt Part IV The Full Model

  For the past week I have been discussing different aspects of our alarming debt problem as vividly illustrated in a recent report from the Congressional Budget Office  (see chart below).  My last...

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Should We Raise Taxes or Cut Spending?

  Tax Day is a good time to remind ourselves about our perilous fiscal situation.  With a public debt (on which we pay interest) of $13 trillion and with annual deficits of just under $500 billion...

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Trump Needs a Wall of Fiscal Discipline

  So says the Concord Coalition’s Robert Bixby. President Trump said in a recent interview on Fox News that he would like to have a balanced budget “eventually,” but not at the expense of higher...

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Is Trump Serious about Shrinking the Debt?

The newly released Trump budget for Fiscal Year 2018 claims that it will lead to a balanced budget in ten years.  This is a highly desirable goal.  However the projected $4.5 trillion in spending...

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New Urgency in Deficit and Debt Control

  The general theme of this blog is major fiscal and economic issues facing the U.S. such as slow economic growth and huge debt. But our currently low unemployment rate of 4.4% and several trends, here...

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Why Am I So Fixated on Our Debt Problem?

  In a few days I expect to announce my candidacy for the Republican nomination for the U.S. Senate seat now held by Deb Fischer. She is running for reelection and apparently is quite popular in...

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