deficit spending

The Real Purpose of Central Banks

March 22, 2013

Why were central banks established? As Richard Salsman summarizes in his latest TOS article, “The End of Central Banking, Part I”: As government grows and spends more, politicians seek to avoid the electoral consequences of raising taxes and try to rely more on borrowing and printing money, policies that central. . . Continue »


The Moral Cliff

December 7, 2012

Everyone is aware that America faces a financial crisis involving the $16.3 trillion national debt, the impending “fiscal cliff,” and the long-term insolvency of entitlement programs. But America also, and more fundamentally, faces a moral crisis—a crisis that underlies and gives rise to the financial crisis—and we cannot effectively act. . . Continue »

Government Spending Keeps Growing, and Growing . . .

July 23, 2012

Although I do not always agree with Scott Rasmussen’s political proposals, the pollster’s understanding of American trends and attitudes is unparalleled. In his latest book, The People’s Money, Rasmussen reviews depressing facts about increasing government spending. Since the 1950s, Rasmussen reports: Federal spending alone has increased faster than population growth. . . Continue »

Europe Needs Real Liberty, Not Fake “Austerity”

May 11, 2012

To various leftist American pundits, France’s recent election of socialist François Hollande to the presidency proves the ineffectiveness of Europe’s alleged “austerity” measures. For example, after considering Hollande’s election and the upheavals in Greece, Time‘s Bryan Walsh concludes: Both are reactions to the increasingly discredited—or at the very least disliked—austerity. . . Continue »