A Bipartisan Tax Hike Won't Fix This Deficit
The government needs to cut back on spending—and on the promises to special interests that fuel the spending.
Medicare
Brian Riedl: Who Bankrupted Us More—Trump or Biden?
"I'm concerned about a Trump-Biden rematch," argues Riedl. "You have two presidents with two of the worst fiscal records of the past 100 years."
Politicians Need To Stop Pretending the National Debt Is Sustainable
The reality raises questions about the kind of future we want to leave for the next generation.
On Economic Issues, the Populist Right and Left Share a Lot of Common Ground
That's bad news for Americans.
Here's One Way To Move Toward Responsible Government and Sane Fiscal Policy
The Copenhagen Consensus has long championed a cost-benefit approach for addressing the world's most critical environmental problems.
The U.S. Needs a Fiscal Commission Because Congress Won't Do Its Job
In the last 50 years, when the budget process has been in place, Congress has managed only four times to pass a budget on time.
87% of Americans Want Politicians To Do Something Before Social Security Runs Out of Money
Entitlement reform has long been considered a third rail in American politics, but that perspective might be changing.
The Real Scandal in Washington Is the Government's Reckless Spending
Those sounding the loudest alarms about possible shutdowns are largely silent when Congress ignores its own budgetary rules. All that seems to matter is that government is metaphorically funded.
The Case for Letting Medicare Bureaucrats Haggle With Drug Makers
Medicare's new price-setting process for drug purchases is better than its current one if the result is lower government spending.
How the Federal Budget Deficit Doubled in a Single Year
It's not the first time that has happened, but there are key differences about what happened this year.
Congress Is Still Using 'Emergency Spending' on Non-Emergencies
Since Congress won't cut spending, an independent commission may be the only way to rein in the debt.
Don't Let the Government-Shutdown Charade Distract You From the Debt Crisis
America’s biggest fiscal challenge lies in the unchecked growth of federal health care and old-age entitlement programs.
The U.S. Credit Rating Just Dropped. It's Time for Radical Budget Reform.
The lack of oversight and the general absence of a long-term vision is creating inefficiency, waste, and red ink as far as the eye can see.
Is the Budget Process Broken, or Is Congress Just Refusing To Do Its Job?
Since Congress designed and implemented the last budget process in 1974, only on four occasions have all of the appropriations bills for discretionary spending been passed on time.
This Election Season, Beware of These False Promises
Many politicians offer a simplified view of the world—one in which government interventions are all benefits and no costs. That couldn't be further from the truth.
The Next President Needs To Cut Spending
At a minimum, the national debt should be smaller than the size of the economy. A committed president just might be able to deliver.
CBO Projects Huge Deficits, $116 Trillion in New Borrowing Over the Next 30 Years
A new Congressional Budget Office report warns of "significant economic and financial consequences" caused by the federal government's reckless borrowing.
Private Insurance and Government Programs Drive Up Health Care Costs
Letting third parties pay our bills pushes prices higher and limits our options.
Social Security and Medicare Are Ticking Time Bombs
Even taking all the money from every billionaire wouldn't cover our coming bankruptcy.
Vivek Ramaswamy Thinks 'Wokeness Is a Cultural Cancer'
Why the businessman launched a long shot campaign for the presidency.
The Debt Ceiling Fight Is a Reminder of America's Dire Fiscal Future
The longer we wait to address our debt, the more painful it will be.
Vivek Ramaswamy Is Wrong About the National Debt
We can't grow our way out of its ruinous economic impact. The only way forward is to cut spending.
Republicans' and Democrats' Refusal To Reform Social Security and Medicare Is Political Malpractice
In 10 years, the programs' funds will be insolvent. Over the next 30 years, they will run a $116 trillion shortfall.
Biden's New Budget Would Hike Taxes and Wage Class Warfare
The higher taxes on small businesses and entrepreneurs could slow growth. Less opportunity means more tribalism and division.
Yes, There Are Libertarians During Bank Runs
Plus: The editors recommend the best books for sparking interest in free market principles.
Ridiculous Spending on Museums May Be Here To Stay
Handouts for tourist-trap museums will be part of the federal funding battleground in the next two years.
Biden's Budget Will Raise Taxes Without Addressing the Federal Government's Spending Problem
Biden is set to propose a new tax on unrealized investment gains and to quadruple a recently imposed tax on stock buybacks.
Paul Krugman Says Social Security Is Sustainable. It's Really Not.
Krugman sees benefit cuts as "a choice" but believes that implementing a massive tax increase on American employers and workers would be "of course" no big deal.
Social Security and Medicare Cuts Are Coming, Whether Politicians Do It or Not
As legislators refuse to act, benefits will be cut without any possibility of sheltering those seniors who are poor.
U.S. Will Add $18.8 Trillion in New Debt by 2033
Plus: Age verification for social media, a bill to ban cannabis "gatherings," and more...
Under No Circumstances Did Joe Biden Save Social Security
Plus: a listener question on prohibition and a lightning round on the editors' favorite Super Bowl moments
Biden's Drug Price Controls Will Kill More Patients in the Long Run
And increase total health care costs to boot.
The Fight Over the Debt Ceiling Is Just Beginning
Legislators will increasingly argue over how to spend a diminishing discretionary budget while overall spending simultaneously explodes.
Social Security Is on the Brink of Collapse. The GOP Won't Touch It.
In 1950, there were more than 16 workers for every beneficiary. In 2035, that ratio will be only 2.3 workers per retiree.
Donald Trump and J.D. Vance Say No Cuts for Social Security. That's Impossible.
Social Security benefits will be cut automatically in less than a decade unless Congress shores up the program before it hits insolvency. Ignoring that is not a solution.
The GOP's Current Plan To Cut Spending Is a Political Failure
Social Security, Medicare, and Medicaid are still the chief drivers of our future debt. But Republicans aren't touching them.
To Win the Speakership, Kevin McCarthy Had To Promise To Cut Spending. Good.
While some Republicans may have had misguided motivations, a few disrupted McCarthy's campaign in order to enact fiscal restraint. Their colleagues were fine with business as usual.
Congress Can Reduce the Deficit by $7.7 Trillion in 10 Years
The Congressional Budget Office projects that future deficits will explode. But there's a way out.
A GOP-Led Congress May Focus on Owning the Libs. Instead, It Should Focus on Owning Inflation.
If the midterms favor Republicans, their top priority needs to be the fight against inflation—whether or not they feel like they created the problem.
A Few Ideas for the Better Government Americans Desperately Want
From cronyist subsidies to an unfair tax code, there are several key fixes Congress could make to better serve the public.
Medicare for All Would Be a Terrible Trade
Top-notch health care, delivered fast and for low cost, really isn’t on the government's menu.
Biden Brags About Falling Deficits, but the Federal Fiscal Situation Is Still 'Unsustainable'
Under current policies, Social Security and Medicare will consume 85 percent of all federal tax revenue by 2050.
Biden Is Trying To Pass a Wealth Tax—Again. It Could Be Unconstitutional.
The president's new budget plan calls on Congress to tax wealthy Americans' unrealized capital gains.
Our Insane Government Spending Will Hurt Our Response to Ukraine
We must face the reality that the debt does matter.
Congress Wants Taxpayers To Bail Out the Postal Service
The House passed the bill this week with little fanfare and broad bipartisan support.
Additional Thoughts on the Supreme Court's Covid-19 Mandate Decisions
Assorted observations on yesterday's opinions, what they mean, and what comes next.