Economic Events on April 12, 2010

At 2:00 PM EDT, the Treasury budget for March will be released.  The consensus is a deficit of $62 billion, after a deficit of $220.9 billion due to spending on stimulus projects and TARP outlays.  Historically, the U.S. Treasury has run an average deficit of $108 billion over the last 10 years, so if . . . → Read More: Economic Events on April 12, 2010

Credit Where Credits Aren’t Due

Ilana Mercer concisely and elegantly makes a point that I’ve been harping on among big-L Libertarians for some time.

“Targeted tax credits” aren’t “incremental moves toward liberty,” they’re just social engineering — shifting the tax burden from those who spend their money the way bureaucrats decide they should spend it, and onto those who . . . → Read More: Credit Where Credits Aren’t Due

10 Points Americans Must Understand About the Economy

1. The interest rate is a price – the price of credit like the price of any good.  In a free market the price would be set like the price of any good at the intersection of the supply of funds (our savings), and demand for funds (businesses’ and individuals’ investing wants).  Instead, we . . . → Read More: 10 Points Americans Must Understand About the Economy

Clunkermania: Top Good News Economic Story of the Year

Last week marked the end of the Cash for Clunkers program. Many have called it one of the best economic stimulus programs ever implemented. Of course the White House has called it “Wildly Successful.”

“This is one of the best economic news stories we’ve seen and I’m proud we were able to . . . → Read More: Clunkermania: Top Good News Economic Story of the Year