HispanicPundit + spending   110

Trump's Budget Asks the Right Questions for Conservatives - Bloomberg View
The first thing to note about this budget is that if you’ve taken entitlement reform off the table -- and Trump has displayed no interest whatsoever in grabbing onto the third rail of American politics -- then this is where any major budget changes are going to occur: in the roughly one-third of federal spending that is discretionary, which is to say, allocated annually by budget appropriation, rather than distributed automatically to anyone who qualifies for the program.
TrumpAdministration  budget  deficits  spending  mcardle 
march 2017 by HispanicPundit
Subsidies Increase Tuition, Part XIV
With all factors present, net tuition increases from $6,100 to $12,559. As column 4 demonstrates, the demand shocks— which consist mostly of changes in financial aid—account for the lion’s share of the higher tuition. Specifically, with demand shocks alone, equilibrium tuition rises by 102%, almost fully matching the 106% from the benchmark. By contrast, with all factors present except the demand shocks (column 7), net tuition only rises by 16%. These results accord strongly with the Bennett hypothesis, which asserts that colleges respond to expansions of financial aid by increasing tuition.
education  spending  costs  tabarrok 
december 2015 by HispanicPundit
Does School Spending Matter After All? | Jay P. Greene's Blog
…the research indicates little consistent relationship between resources to schools and student achievement. Much of the research considers how resources affect student achievement as measured by standardized test scores. These scores are strongly related to individual incomes and to national economic performance, making them a good proxy for longer run economic impacts. But, the evidence – whether from aggregate school outcomes, econometric investigations, or a variety of experimental or quasiexperimental approaches – suggests that pure resource policies that do not change incentives are unlikely to be effective. (p. 866)
education  spending  greene 
may 2015 by HispanicPundit
The best card for reloading REDbird - The Frequent Miler
Chase Fairmont Visa Signature Earn a free night every year with $12K spend. Chase Hyatt Visa Signature Best for those seeking Hyatt Diamond status: Receive 2 stay credits and 5 night credits toward Diamond status upon spending $20,000 in each calendar year. Receive an additional 3 stay credits and 5 night credits toward Diamond status upon spending $40,000 in each calendar year. Citi Hilton HHonors Reserve Earn a free weekend night with $10K spend. Earn Diamond status with $40K spend.
creditcards  spending 
april 2015 by HispanicPundit
What Has Caused the Slowdown in Health Care Spending? | John Goodman's Health Policy Blog | NCPA.org
Not ObamaCare. The slowdown occurred before the Affordable Care Act was passed and the growth rate has been flat since then.
goodman  obamacare  sidebar  spending  healthcare 
august 2013 by HispanicPundit
CONVERSABLE ECONOMIST: Why Does the U.S. Spend More on Health Care than Other Countries?
The U.S. spends vastly more on hospitalization and acute care, with a substantial share of that going to high-tech procedures like surgery and imaging. The U.S. does a poor job of managing chronic conditions, which then lead to episodes of costly hospitalization. The U.S. also seems to spend vastly more on administration and paperwork, with much of that related to credentialing, documenting, and billing--which is again a particular important issue in hospitals. Any honest effort to come to grips with high and rising U.S. health care costs will have to tackle these factors head-on.
timtaylor  sidebar  WHO  spending  healthcare 
june 2013 by HispanicPundit
CONVERSABLE ECONOMIST: U.S. Education Spending in International Context
You would expect countries with a higher per capita GDP to spend more on education, and they do. In fact, a graph that plots the relationship across countries between per capita GDP and per student spending on primary and secondary education almost traces out a straight line. But for spending per student on post-secondary education, the U.S. spends far more one would predict based on per capita GDP. Here's the graphs from The Condition of Education 2012, published by the National Center for Education Statistics at the U.S. Department of Education, using OECD data.
university  timtaylor  sidebar  education  graphs  costs  spending 
may 2013 by HispanicPundit
Why Don't Americans Save? - The Daily Beast
And that's exactly what they found: the higher the average income of your racial group in your state, the lower the fraction of your income you devoted to highly visible status goods. More importantly, this was true for all racial groups: whites in rural and southern states, where incomes are low relative to the rest of the country, spent more of their income on visible consumption goods than whites in higher income states.
mcardle  blacks  sidebar  savings  minorities  inequality  culture  spending 
march 2013 by HispanicPundit
Which hurts more in the short run, tax hikes or spending cuts? , Garett Jones | EconLog | Library of Economics and Liberty
Tax hikes, according to IMF research praised by Paul Krugman. 

The surprising thing is this is an IMF study that usually gets cited to show that spending cuts don't grow the economy---that "expansionary austerity" is a mere theorist's dream.  But this same research also provides evidence that tax hikes cause more trouble than spending cuts in the short run.
sidebar  jones  krugman  spending  economic-growth  taxes 
november 2012 by HispanicPundit
Austerity or Growth: A False Dilemma — The American Magazine
The argument for more defense spending as a stimulus - something both sides can accept.
sidebar  TheAmerican  austerity  spending  military 
june 2012 by HispanicPundit
The euro crisis: Yes, there is austerity | The Economist
The spending cuts are there, in spades. Of course, the importance of spending cuts in episodes of austerity derives from the view that they are more likely to "stick" than tax rises, and that they are critical in generating "expansionary austerity". But this is no iron law of fiscal consolidation. Rather, as a recent IMF paper pointed out, it is due to the fact that central banks are more likely to accommodate spending cuts with aggressive easing than they are tax rises.
austerity  spending  cowen  europe  economist  sidebar 
may 2012 by HispanicPundit
Temporary vs. permanent increases in government spending — Marginal Revolution
Not long ago Paul Krugman wrote:

To a first approximation, in other words, the effect of current fiscal policy — whether stimulus or austerity — an [on?] the actions of future governments is zero.

He makes further points at the link, although there is not a citation to the literature. I thought we should look at the evidence a little more closely. Some of it contradicts Krugman as read literally, though it is not all bad news for his larger point.
spending  government  krugman  cowen  sidebar 
march 2012 by HispanicPundit
Raising taxes vs. cutting spending: Which is the better path to debt reduction? « The Enterprise Blog
Note that this implies a totally different solution to the problem of "non-emergent ER visits": urgent care or "Minute Clinics" that work odd hours.  Otherwise, you just cram even more people into the same ER space*.  It is easy to come up with "Just So" stories in health care. The reforms always sound wonderful, and the benefits always unfold in a beautifully logical way.  Unfortunately, people, and reality, are rarely as predictable as the models.
taxes  spending  keynes  graphs  aei  sidebar 
october 2011 by HispanicPundit
An UnCLASS-y Act - Megan McArdle - Business - The Atlantic
Note that this implies a totally different solution to the problem of "non-emergent ER visits": urgent care or "Minute Clinics" that work odd hours.  Otherwise, you just cram even more people into the same ER space*.  It is easy to come up with "Just So" stories in health care. The reforms always sound wonderful, and the benefits always unfold in a beautifully logical way.  Unfortunately, people, and reality, are rarely as predictable as the models.
obamacare  deficits  spending  mcardle  sidebar 
october 2011 by HispanicPundit
HEALTH CARE SPENDING | Angry Bear - Financial and Economic Commentary
But the lesson one learns from a ratio chart like this depends on what is happening to both the denominator and the numerator.

If you look at the growth in health care spending in isolation the data creates a very different impression.

This data shows that in recent years the growth in health care spending has actually been slowing significantly. It shows that maybe the real problem is the weak economy, not rapidly growing health care spending.
healthcare  spending  angrybear  sidebar 
october 2011 by HispanicPundit
The Outlook for Social Security, Arnold Kling | EconLog | Library of Economics and Liberty
I think that the level of knowledge among budget pundits has fallen sharply in the last fifteen years. Fifteen years ago, it was well know that Social Security is in need of major reform. We lost that knowledge.

My theory is that we lost that knowledge when the Bush tax cuts were enacted. The Bush tax cuts discredited budget compromisers on both sides. At that point, no Democrat could sell spending cuts to fellow Democrats and no Republican could sell tax increases to fellow Republicans. We have now had a decade for both sides to dig in, and that means a whole generation of politicians and pundits have emerged who are stuck on stupid.

Maybe the Bush tax cuts were not the causal event. Maybe there were underlying structural issues in American politics that were going to put us here anyway. But on Social Security, the Democrats were a lot closer to grasping reality in 1998 than they are today.
bushtaxcuts  spending  deficits  social-security  kling  sidebar 
september 2011 by HispanicPundit
We Have Met the Enemy and It Is Us: Healthcare Fact of the Week « The Enterprise Blog
A new study projects that U.S. healthcare spending will rise by as much as $66 billion a year by 2030 because of obesity. That’s about 2.6 percent of current health spending. While this trend is of obvious concern (and would be good to avoid), those figures pale in comparison to the total amount of U.S. health spending that can be attributed to behavior, lifestyle, and other avoidable causes.

Consider the underlying causes of diseases that give rise to health spending. The chart below lists 15 such causes, together with estimates of the share of 2011 personal healthcare expenditures (PHCE) attributable to them. (Note that PHCE represents only about six-sevenths of total health spending, as it does not include the costs of medical research, health-related construction, public health activities, or the administrative costs of health insurance or public programs such as Medicare
health  healthcare  spending  costs  aei  sidebar 
september 2011 by HispanicPundit
Hoover and DeLong
On whether hoover spent more or less during his era.
fdr  hoover  spending  history  delong  roberts  sidebar 
august 2011 by HispanicPundit
Since the 1980s, spending cuts no longer cause riots — Marginal Revolution
Interestingly, though, since the late 80s, this relationship has broken up and vanished. According to the results, in modern, industrial societies, there is no longer any palpable link between spending cuts and rioting.
spending  government  cuts  cowen  sidebar  glaeser 
august 2011 by HispanicPundit
A plain blog about politics: No, Starve the Beast Didn't Win
I think that Bruce Bartlett continues to be right about this: starve the beast just doesn't work. The logic of why it doesn't work is that once government spending is decoupled from government revenues (which starve the beast does deliberately, assuming that in the long run there will be a spending-cuts payoff), there is no longer much reason to oppose spending, because it's in effect free. A PAYGO approach, on the other hand, by insisting that every spending increase (or tax cut) be fully paid for within the budget, works just fine.
StarveTheBeast  taxes  government  bartlett  bernstein  sidebar  spending 
august 2011 by HispanicPundit
NCTQ: LA schools waste money — Joanne Jacobs
Los Angeles public schools waste $500 million a year to pay teachers for completing graduate courses that don’t improve teaching, concludes a report by the National Council on Teacher Quality. The money would be better spent paying more to teachers who deliver results, such as higher test scores, or to attract proven talent to the system, NCTQ’s Kate Walsh told the Board of Education at last week’s meeting, the Los Angeles Times reports.
teachers  teaching  education  spending  jacobs  sidebar 
june 2011 by HispanicPundit
How to cut government spending — Marginal Revolution
2. The policy is cutting a rate of growth, rather than cutting current spending in absolute terms. This may lead to sectoral readjustment problems for some people who are planning careers in health care, but it leaves current revenue streams intact and indeed it is still likely to grow them by some amount. Fairly often I see Keynesian opponents of “spending cuts” confuse absolute cuts with cuts in the rate of spending growth; the latter involve much smaller Keynesian problems.
keynes  deficits  healthcare  spending  krugman  cowen  sidebar 
june 2011 by HispanicPundit
McAllen Redux | John Goodman's Health Policy Blog | NCPA.org
Overspending in McAllen appears to be a Medicare problem, not a health care problem. Graphics below the fold.
medicare  spending  mcallen  newyorker  goodman  sidebar 
may 2011 by HispanicPundit
In defence of Europe's defence | The Economist
To say that Europe is "free riding on the US" implies that Europe is getting something. Yet those who make these kinds of claims never explain just what it is they think Europe gets out of America's colossal levels of military spending. Most Western Europeans don't see themselves as deriving any great benefit from America's disproportionate defence outlays; it is not clear how Europe's security would be harmed if America did cut its defence budget. And it is not clear how European security would be enhanced if Europe dramatically increased its defence spending. Now that China is ramping up its defence spending, American officials say they are troubled because Beijing does not explain what threats it seeks to counter. Anyone who wants Europe to increase its defence spending ought to do the same.
europe  usa  military  spending  economist  sidebar 
may 2011 by HispanicPundit
Who Is Big Government’s Best Friend?
What they are missing are the implications of what I call Wallison’s Maxim—”it is far easier to spend than to tax.”
Once this idea is grasped, it becomes clear why it is not a “compromise” when the Republicans agree to tax increases while the Democrats agree to spending cuts. Without a mechanism that ties spending to tax revenues—like the balanced budget requirement in state constitutions—tax increases don’t necessarily decrease or eliminate a deficit.
History supports this.
deficits  taxes  spending  yglesias  cowen  AEI  sidebar 
april 2011 by HispanicPundit
The GOP Health Care Plan: A Difference in Kind, Not Degree - Megan McArdle - Business - The Atlantic
Expect there to be a lot of angry back and forth over this in the next week or so. But one thing to keep in mind is that this Medicare plan is not effectively very different from what the Democrats claim ObamaCare is going to do: which is to say, cap the amount of money spent on providing health benefits to those who are not rich enough to opt out of the public system. The Democrats want to do so by having a central committee of experts decide what our health dollars get spent on; the GOP wants to put those decisions into the hands of consumers. But this is not an argument about who loves old, sick people more. Both parties are promising to halt the rapid growth of government health care expenditures, which is definitionally going to fall hardest on old, sick people.
PaulRyan  medicare  spending  mcardle  sidebar  healthcarePanel 
april 2011 by HispanicPundit
Realism on Defense Spending - NYTimes.com
But if we’re talking about fiscal issues, you have to bear the arithmetic in mind. We’re not living in the 1950s, when defense was half the federal budget. Even a drastic cut in military spending wouldn’t release enough money to offset more than a small fraction of the projected rise in health care costs.

So by all means, let’s try to crack down on the massive waste that goes on in matters military. But doing so would be of only modest help on the larger budget problem.
military  spending  krugman  sidebar 
february 2011 by HispanicPundit
The Political Failure of Keynesian Economics - Megan McArdle - Business - The Atlantic
When people like Paul Krugman say that almost $900 billion in stimulus didn't work because it wasn't big enough, you have to wonder if an adequate Keynesian stimulus is even possible. Could any government anywhere borrow 15% of GDP or more to spend on temporary measures with the blessing of their citizens? For that matter, would the markets lend the money without ratcheting up interest rates? Can an extra 15% of GDP be spent without showing sharply diminishing returns--meaning that you'd need even more spending to generate the effects you want?
spending  fiscalstimulus09  fiscal  keynes  krugman  mcardle  sidebar 
february 2011 by HispanicPundit
Canada's Road to Balanced Budgets, David Henderson | EconLog | Library of Economics and Liberty
"Arnold has commented on Tyler Cowen's post on the steps the Canadian government took in the 1990s to reduce budget deficits and turn them into surpluses. The government did it mainly with reductions in the growth of government spending and secondarily with tax increases. I have three comments on the Canadian situation and on the related issue of the Tea Party."
spending  canada  EconomicView  cowen  kling  henderson  sidebar 
december 2010 by HispanicPundit
Marginal Revolution: Who again is supposed to cut the rate of growth of Medicare spending?
"The median result in trials is four extra months of life, and the link is here. If you think that four months of life are worth $93,000 of public money, that is a defensible position. But how many times can you apply that argument? I saw this treatment as a good candidate for allocation by market mechanisms, but I suppose that's not how it will be."
pharmaceuticals  medicare  spending  cowen  sidebar 
november 2010 by HispanicPundit
Which Party is Better on the Deficit? - Megan McArdle - Business - The Atlantic
"Don't get me wrong, I think that Republicans are deeply, terrifyingly unserious about raising taxes and cutting spending. But I think that Democrats are also deeply, terribly unserious about doing those things. I think that Republicans are worse on the tax side, but I think Democrats are worse on the spending side, and it's far from clear to me that on balance, the Democratic position leads to net deficit reduction over the Republican alternative."
Democrats  republicans  deficits  spending  tax-cuts  mcardle  sidebar 
october 2010 by HispanicPundit
Super-Economy: Krugman Wrong About Cause of Growing Deficits
Rebutting Krugman: Its the spending, not the tax rates, that are the cause of the increased deficit.
deficits  spending  taxes  krugman  SuperEconomy  sidebar 
october 2010 by HispanicPundit
Marginal Revolution: The Shape of Things to Come and Not to Come
"Taxes won't be raised much (do the Dems seem to have great love for reversing the Bush tax cuts?), spending won't be cut enough (the recent Republican document is extremely weak), and within twenty years we will have a sovereign debt crisis in the United States, as one day a Treasury auction won't go well. I'll predict, but not favor, the emergency passage of a VAT, a' la TARP, which will restore fiscal stability but lower the long-term rate of growth. When that time comes, the VAT will indeed be necessary, though ex ante I would opt for less social protection and a higher rate of economic growth."
spending  taxes  VAT  economic-growth  yglesias  cowen  sidebar 
september 2010 by HispanicPundit
Austerity for Liberty, Bryan Caplan | EconLog | Library of Economics and Liberty
Caplan makes the argument that from a small government perspective, its better to fight for limited social programs than radical reforms.
social-security  vouchers  government  spending  deficits  libertarianism  caplan  sidebar 
september 2010 by HispanicPundit
Matthew Yglesias » Voters Want to Soak the Rich
"That’s lower Medicare benefits for the rich, higher Social Security taxes for the rich, higher income taxes for the rich, higher corporate income tax, and lower Medicare payment rates. That’s pretty much an aggressively leveling agenda. Broad tax increases are deemed unacceptable, as are broad reductions in retirement program spending (even when formulated as changes to the retirement age), as are cuts to defense and cuts to federal education spending. That’s what the public wants. It’s not the soundest policy agenda in the world, but insofar as there’s no prospect of reaching a deal this year on a long-term budget fix nor is there any reason to think reaching a deal this year on a long-term budget fix would be desirable I don’t see why a practical politician would do anything other than talk about these measures.
spending  social-security  medicare  corporate  taxes  polls  yglesias  sidebar 
august 2010 by HispanicPundit
Spending, Not Tax Cuts, Is the Real Driver of the Fiscal Mess — The American, A Magazine of Ideas
"Yet a CBO projection on the future fiscal gap shows that spending, not tax cuts, is the real driver. The chart below compares average federal revenues and outlays over the next 25 years with those over the past 25 years. (The time frame chosen matters little; the qualitative results are the same regardless of whether we look at 25 years, 50 years, or some other period.)"
deficits  spending  taxes  TheAmerican  sidebar 
august 2010 by HispanicPundit
What Happened To American Exceptionalism? | The New Republic
"Moreover, a disproportionately high share of American spending goes to defense. So, first of all, tax hikes hurt less in the U.S. than in most other because countries because tax rates start from a lower level. (And taxes in the United States are less redistributive than in most Western countries.) Second, social spending is very low in the U.S., since overall spending tends toward the low end and defense spending consumes an unusually high proportion. So the United States has less room to cut social spending than most advanced countries do."
spending  usa  world  europe  brooks  chait  sidebar 
july 2010 by HispanicPundit
Greg Mankiw's Blog: Government Spending by Another Name
"When it comes to spending cuts, Congress is looking in the wrong place. Most federal nondefense spending, other than Social Security and Medicare, is now done through special tax rules rather than by direct cash outlays. The rules are used to subsidize a wide range of spending including education, child care, health insurance, and a myriad of other congressional favorites."
spending  states  medicare  social-security  Feldstein  mankiw  sidebar 
july 2010 by HispanicPundit
Keynes vs. Alesina. Alesina Who? - BusinessWeek
"Alberto Alesina is a new favorite of fiscal hawks like former President George W. Bush's chief economic adviser, N. Gregory Mankiw. A professor of economics at Harvard University, the 53-year-old Italian disputes the need for more government spending to prop up growth and advocates spending cuts instead. "
fiscalStimulus09  spending  Alesina  sidebar 
july 2010 by HispanicPundit
Super-Economy: How much is military spending?
"n 2010 national defense costs about 680 billion dollars, which translates to approximately 4.5% of GDP. The 2 wars are about 1-2% of GDP. During the cold war (1946-1989) defense spending as a share of GDP averaged 7.7%. Overall, the share of national income that goes to defense has been declining, with the expectation of two minor bumps associated with the Iraq war and now the escalation in Afghanistan."
military  spending  deficits  afghanistan  iraq  costs  SuperEconomy  sidebar 
june 2010 by HispanicPundit
Conservatives Ignore Their One Proven Success | The New Republic
"The funny thing is, Bush's deal worked. So did Bill Clinton's deficit reduction package three years later, which was structured along similar lines and overcame even more hysterical opposition from the right. It not only worked as intended, it represented possibly the single greatest triumph of domestic conservative policymaking of the postwar era. Look at this chart. Starting in 1990, federal spending fell from 22% of the economy to 18%"
bush  taxes  republicans  clinton  spending  budget  deficits  chait  sidebar 
june 2010 by HispanicPundit
An All-Time Fiscal Fallacy: Tax Cuts Starve the Beast | Capital Gains and Games
"For some years, Bill Niskanen of the libertarian Cato Institute has argued that STB actually increased spending and made deficits worse. His argument is that the cost of spending is ultimately the taxes that will have to be raised to pay for it. Thus fear of future tax increases was the principal brake on spending until STB came along. By eliminating tax increases as a necessary consequence of deficits, it also reduced the implicit cost of spending. Thus, ironically, STB led to higher spending rather than lower spending as the theory posits."
taxes  deficits  spending  bartlett  sidebar 
may 2010 by HispanicPundit
Ezra Klein - The 2020 budget
"Elmendorf's conclusion: "The United States faces a fundamental disconnect between the services that people expect the government to provide, particularly in the form of benefits for older Americans, and the tax revenues that people are willing to send to the government to finance those services." Yep."
CBO  budget  deficits  social-security  medicare  spending  klein  sidebar 
may 2010 by HispanicPundit
A Note on Public Sector Pay, Arnold Kling | EconLog | Library of Economics and Liberty
"The chart shows that public and private sector pay rose in parallel from 2001 to 2004. Then the lines diverged. Since early 2005, public sector pay has risen by 5% in real terms. Meanwhile, private sector pay has been flat."
government  spending  kling  sidebar 
may 2010 by HispanicPundit
The Commission, the Deficit, and the VAT, Arnold Kling | EconLog | Library of Economics and Liberty
"Honestly, I do not see any alternative that looks feasible. Given all of our other taxes, I doubt that a VAT would raise enough money at the margin to make a difference. Already, marginal tax rates are very high for several classes of people, particularly those with low enough incomes to qualify for various means-tested government programs. Introduce a significant VAT on top of the current tax system, and lots of people are going to decide that housework and the underground economy are more lucrative than working in the market".
VAT  social-security  medicare  spending  deficits  budget  mankiw  cowen  kling  sidebar 
may 2010 by HispanicPundit
Marginal Revolution: New Zealand and the VAT and the critics
"Fred has lots of dire words for the VAT but there's no comparative analysis indicating that spending cuts will prove viable. Fred also neglects to mention that after New Zealand adopted the VAT (or GST, 1986), the country moved from being one of the least free in the Western world to one of the most free, economically speaking. New Zealand is actually the best case scenario and if anything it is unrepresentative in the positive direction. I believe the economic liberation of New Zealand could not have happened, had the reformers had to institute massive spending cuts instead of the VAT."
VAT  spending  cowen  sidebar 
may 2010 by HispanicPundit
Get Ready for More Taxes - Economix Blog - NYTimes.com
"As the graph below shows, at this time, the United States remains among the least-taxed nations in the industrialized world, measured by all taxes of all forms at all government levels as a percentage of the total economy. That is apt to change in the coming decade, regardless of who occupies the White House or Congress."
taxes  usa  europe  vat  obamaadministration  budget  deficits  spending  economix  sidebar 
april 2010 by HispanicPundit
Red States, Blue States and the Distribution of Federal Spending | Jeff Frankels Weblog | Views on the Economy and the World
"It will come as a surprise to some, but not to others, that there is a fairly strong statistical relationship, but that the direction is the opposite from what you would think if you were listening to rhetoric from Republican conservatives: The red states (those that vote Republican) generally receive more subsidies from the federal government than they pay in taxes; in other words they are further to the right in the graph. It is the other way around with the blue states (those that vote Democratic). "
states  spending  government  welfare  frankel  sidebar 
march 2010 by HispanicPundit
Matthew Yglesias » Defense Spending in Europe
"contrary to the widespread impression of Europe as a demilitarized continent gripped by pacifism, Europe is in fact extremely militarily capable compared to anyone other than the United States of America. As this chart from Chris Preble makes clear, Europe isn’t disinvisting in military capabilities, the United States is just rushing ahead with massive defense spending for unclear reasons"
military  europe  spending  yglesias  sidebar 
march 2010 by HispanicPundit
Matthew Yglesias » The Spending Tug
"Which is just to say that in a rarified “I work at a think tank” kind of way, beliefs about entitlement spending ought to roughly line up with beliefs about means-tested welfare and it all ought to be driven by abstract beliefs about small government and egalitarianism. In the real world, however, there are significant other factors driving opinion that push views about these categories of spending in different directions. "
welfare  social-security  medicare  spending  conservatives  race  yglesias  sidebar 
february 2010 by HispanicPundit
Matthew Yglesias » Defense Spending
"There’s been an effort underway to convince people that defense expenditures just naturally drift ever-upwards, but it’s not the case. There were specific spikes associated with the Korean War, the Vietnam War, and the beginning of Ronald Reagan’s administration. The current spike, allegedly, is all about the need to fight al-Qaeda. But it’s not as if 9/11 happened because they outspent us. "
military  spending  yglesias  sidebar 
february 2010 by HispanicPundit
Means-Testing Really Is Relatively Awesome, Bryan Caplan | EconLog | Library of Economics and Liberty
"Of course, I'd rather just abolish the welfare state. I suspect David agrees. But as long as the welfare state is around, means-testing is a common-sense way to keep it under control."
welfare  spending  medicare  social-security  social-insurance  henderson  caplan  sidebar 
february 2010 by HispanicPundit
Debt and Taxes at Steven Landsburg | The Big Questions: Tackling the Problems of Philosophy with Ideas from Mathematics, Economics, and Physics
“Debt reduction” can mean less spending, or more taxes, or some combination thereof. But to raise taxes solely for the purpose of debt reduction is to mask the problem, not to solve it. Debt is not the problem; spending is. Hysteria about the debt is misdirection.
deficits  budget  spending  landsburg  sidebar 
february 2010 by HispanicPundit
Means-Testing is Awesome, Bryan Caplan | EconLog | Library of Economics and Liberty
"Just think about how small government would be if only the bottom decile got full Social Security and Medicare benefits, and these benefits were phrased out over the second decile. Right now, these programs are about 35% of the budget and growing fast. With this means-testing formula, they would shrink down to roughly 5% (or even less, since the richer live longer)."
social-security  medicare  social-insurance  spending  costs  healthcare  caplan  sidebar 
february 2010 by HispanicPundit
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