by George Landrith
Dr. Thomas Sowell, the Stanford University based economist, wrote this week that when he was teaching he would ask his students to consider this: “Imagine a government agency with only two tasks: (1) building statues of Benedict Arnold and (2) providing life-saving medications to children. If this agency’s budget were cut, what would it do?” Sowell posits that the agency would naturally cut back on medications for children. He explains that is the only result that would lead to getting the budget cuts restored. And he pointedly explains why the government wouldn’t cut back on the silly statues: “If they cut back on building statues of Benedict Arnold, people might ask why they were building statues of Benedict Arnold in the first place.”
Dr. Sowell is absolutely correct! Years ago, when I served on a local school board I witnessed this almost reflexive response every year the budget was tight. The most absurd things were never offered for cuts. They always threatened to cut the things that would most outrage the public. They talked about cutting bus routes for kids that lived far away from schools. They talked about crowded classrooms. [Read more...]
by Victor Davis Hanson
President Obama says he wants a “balanced” approach to the fiscal cliff. But critics argue the real problem is spending, which has far outstripped rising tax revenue as well as economic growth.
While President Obama insists the Bush tax cuts caused the recession and record deficits, his own economists say otherwise.
by George Landrith
“After the phony cliff, we face the terrifying one.”
by George Landrith
