Dr. Johnson’s remark at the prospect of being hanged is just as true of the prospect of municipal bankruptcy: it concentrates the mind wonderfully.
Inflated by broad eligibility and chronic unemployment, this troubled program is due to pop.
The first step to avoid drowning in debt? Stop ignoring the approaching wave. By David Koitz.
Can’t anyone free California from deficits and dysfunction? By Michael J. Boskin and John F. Cogan.
No longer able to devalue its way to competitiveness, Europe can save itself in just one way: reforming its welfare states. By Michael J. Boskin.
Proposals to cut deeply into the Pentagon budget carry risks that the administration has yet to confront. By Kori N. Schake.
European lawmakers want to protect their favorite regulations—effective or not, now and forever. By James Huffman.
Politicians were eager to cry “market failure” when the deeper problem was, and remains, government failure. By Gary S. Becker.
The next wave of retirees will be, on the whole, very comfortable—think of them as million-dollar baby boomers. Why should the young have to shell out for them? By John F. Cogan.
The quarter-century of economic expansion that began in the 1980s demonstrated the virtues of limited government. How quickly our politicians forget. By John B. Taylor.