Tag Archives: Economist

MUST-READ: WORLD magazine puts Paul Ryan on the front cover

Rep. Paul Ryan

This is the best evangelical news magazine out there. The same one that profiled Michele Bachmann a while back.

Here’s the cover story. (H/T Muddling Toward Maturity)

Excerpt:

While a student at Miami University in Ohio, Ryan thought he’d become an economist. He read the likes of Milton Friedman and Ayn Rand and envisioned a life of theories. But he eventually learned that public policy is the arena where ideas really live or die. “That is what built this country—good ideas,” he says.Post-graduation stints as a speechwriter for Jack Kemp, at a conservative think tank, and as legislative director for Sen. Sam Brownback of Kansas led to Ryan’s successful run for an open House seat in 1998. He was just 28.

After almost a decade of near anonymity in Congress, Ryan’s 2007 ascension as the ranking Republican on the House Budget Committee gave him the staff resources and the clout to let out his inner economist. He now also is senior member of the tax-writing House Ways and Means Committee. From those perches he has crafted a roadmap to privatize Medicare and Medicaid, provide vouchers for many federal programs, replace employee-sponsored health insurance plans with individual tax credits, and impose tough controls on federal spending.

The Congressional Budget Office, the nonpartisan number crunchers, determined that Ryan’s roadmap delivered on its promises of balanced budgets and smaller deficits (unlike its projections for Obamacare). Under current policies, the CBO concludes that the nation in 2080 will devote 34 percent of its gross domestic product (GDP) to government spending; under Ryan’s plan, the CBO predicts that federal spending in 2080 would fall to less than 14 percent of the GDP while the government would enjoy a 5 percent annual surplus. And all without raising taxes. In fact, Ryan proposes a flat tax of two rates: 10 percent and 25 percent.

Better read it quick, before it goes behind the pay firewall.

Lately, I have been busy working my way through the Indivisible e-book that the Heritage Foundation published. The e-book is about 85 pages long, and features leading fiscal and social conservatives, writing from the point of view that they do not normally adopt! In the e-book, Paul Ryan, a huge fiscal conservative, writes about the right to life. Check it out. I just ordered 5 more copies of Indivisible from the Heritage Foundation along with some of their new booklet on Regulations.

Veronique de Rugy shows that stimulus money was allocated for political gain

Veronique de Rugy

Story here on National Review. (H/T The Other McCain via ECM)

Excerpt:

As it turns out, when controlling for state capitals and a host of other potentially relevant variables, we find that the original findings still hold. We learn a few other things, too:

  • First, how and where the money is spent doesn’t seem to be related to unemployment or decline in employment in the district where it is spent.
  • Second, the district’s party affiliation matters in where the money is spent. (We still don’t know how much it matters compared to other factors.) The average Democratic district receives 81 percent more than the average Republican district. Even after taking out the money spent through state capitals, the average Democratic district receives at least 30 percent more than the average Republican district.
  • Third, whether a district has part of a state capital in it is an important factor in how stimulus money is spent. However, controlling for this factor, or even taking the money going to state capitals out altogether, doesn’t negate the finding that the district’s party affiliation matters in where the money is spent.
  • Finally, how long the district’s representative has been in office seems to have a small but significant impact on how the money is spent (this is a new finding, as well).

There is still much more to learn on the question “How are stimulus funds being spent and why?”

The more I dig into this, the more important the question seems.

George Mason University is a pretty moderate school, but they boast a fine conservative economics department. Jennifer Roback Morse used to teach there, and Walter Williams still does. It’s probably the best place for a conservative or libertarian student to do an economics degree.

Now seems like a good time to re-post Michele Bachmann’s denunciation of gangster government, too.

Michelle Malkin calls them Corruptocrats. It fits.

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