growth of government Archive

The War On Poverty

“The official poverty rate in the United States, defined as lacking resources for life's basic needs, was 19% in 1964. It had fallen to 12.1% by 1969, the year Johnson left office. Last year, it stood at 15%.” -- USA Today. ... What would a victory in the War on Poverty look like? ...
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On Medical Insurance and Personal Responsibility

By James Schaefer. Paying routine medical bills out of pocket, as our parents and grandparents did before us, is part of life. It is no different from our obligations to put food on the table, to pay the rent or mortgage, to work, and to be productive, law-abiding citizens. Insurance protects against risk, and...
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Health Insurance Is Not Health Care

By John Lumbard, CFA. In late December movie mogul Michael Moore, writing in the NY Times, described Obamacare as “awful” and said that he’d known this all along---but didn’t want to say so because it would give comfort to the President’s “enemies”.  Maybe it’s time we stopped the hyper-partisan hyperventilating, and...
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(Dis)Ability

By John Lumbard. Guy walks into a bar, orders a beer, and stands there drinking it while he watches a Bruins game.  Orders another beer, and stands there drinking it . . . While he’s drinking the third one, he’s asked what he does for a living . . . . “I’ve...
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On Taxes and Growth

By James Schaefer. The U.K.'s Chancellor of the Exchequer, George Osborne, wrote an op-ed recently in the Wall Street Journal ("How Britain Returned to Growth", December 17, 2013), on Britain's changes to their tax rates and spending as a means of stimulating growth of the British economy.  The results were dramatic. They...
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Motown Blues

By John Lumbard. "Addressing a lunchtime rally of more than 6,000 state workers in front of the State House Annex on Monday, [New Jersey Governor] Corzine pumped his fists and vowed to keep his pledge to increase the pension contributions. ''I will fight for you,'' Corzine told the crowd, made up...
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Whence We Came

By James Schaefer.   The original colonists of America and Canada were risk-takers -- by definition, a self-selecting group of people -- willing to leave behind family and culture and language and all that stood for civilization to cross an ocean in search of a better life. No government handouts awaited them. That entrepreneurial spirit...
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Jefferson Democrats and the 2012 Election

By James Schaefer. In a Wall Street Journal piece entitled Obama and the Politics of Condescension, Karl Rove asks the question, "Do we place our trust in the federal government or the people?" This question is not a new one. At the founding of the republic, it  was central to the debate. Alexander Hamilton wanted...
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How To Create Jobs

By Paul K. Wright. The economy of 2012 should look very similar to the economy of 2011, and it’s likely that we won’t see any change in this low-growth environment for a number of years. Consumers and corporations have been spending less and paying down debt, and while this lower rate...
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The Truth about Entitlements

By James Schaefer.   In today’s Wall Street Journal, the lead editorial discusses the problems of government overspending (The Road to a Downgrade, July 28, 2011). Medicare, Social Security, and Medicaid prove Milton Friedman's thesis: we cannot get something for nothing.  There is no free lunch; and indeed, it is quite an...
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