The Politico reports that Congress will largely abandon the new five-day workweek that Speaker Pelosi implemented this year.
I think I like this development. The less they’re in session, the less damage they can do. Right?
The Politico reports that Congress will largely abandon the new five-day workweek that Speaker Pelosi implemented this year.
I think I like this development. The less they’re in session, the less damage they can do. Right?
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Posted in Economics, General Foolishness, Political Animals, Public Choice
E.J. Dionne’s latest column praises Maryland governor Martin O’Malley. It begins:
Imagine a place where the leading politician pokes fun at those who “regard all taxes as a pestilence, a plague or a disease.”
Imagine the same politician saying: “Not one of us wants to pay more in taxes. But you know what we want even less? What we want even less is to leave our country to our kids in a worsened condition.”
O’Malley probably thinks he looks Pragmatic and Moderate. That will get him Votes, which are a politican’s lifeblood. Forgive me then, for being more concerned with being correct than popular.
O’Malley gives us a choice here between keeping taxes low and bettering the country – for the children, natch. It is a false choice.
Look at some of Maryland’s new spending initiatives the tax increase will fund: more money for health care. More money for education. Transportation. Environmental cleanup. Wonderful things all. But O’Malley is choosing the wrong means for pursuing these ends.
For example, Maryland has some lousy public schools, especially in Baltimore. But giving them more money literally rewards their failure. This problem is systemic; the solution then is to get government out of the education business. Even if it isn’t Pragmatic or Moderate.
And we’ve all heard the stories about how well government health care intiatives work – they don’t. And when something doesn’t work, you should stop doing it. Even if it costs you Votes.
Someone should tell Governor O’Malley that it is better to do good than to look good. Cut spending. The $550m in cuts this year is a good start, even if it’s negated by other increases. After spending is down and the deficit is under control, cut taxes. The children will thank you for it later.
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Posted in Economics, education, Philosophy, Political Animals, Public Choice
A few of his pithier quotations:
“When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.”
“The Republicans are the party that says government doesn’t work and then they get elected and prove it.”
“If you think health care is expensive now, wait until you see what it costs when it’s free.”
“Term limits aren’t enough. We need jail.”
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Posted in Elections, General Foolishness, Health Care, Pith, Political Animals, Public Choice
One of the claims Bryan Caplan makes in The Myth of the Rational Voter is that people overwhelmingly tend to think the economy is in worse shape than it actually is. He calls this pessimistic bias.
George Will’s Newsweek column puts some fresh numbers on pessimistic bias:
“Recent polls, taken just before the announcements that third-quarter growth was a robust 3.9 percent and that 166,000 jobs were created in October, showed that up to 46 percent of Americans think the economy is in a recession.”
This is a significant, systematic intellectual error on the part of the public. We need to fix it.
As I’ve said earlier, we could blame the media for this, with all of the dire warnings and misleading headlines out there, but that would be a mistake. They’re just giving the people what they want. We humans seem to have an innate psychological predisposition towards doom and gloom. The only way I can think of to counteract pessimistic bias is with facts.
Too bad no one listens.
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Posted in Economics, Public Choice
My letter ran today. You can read it here.
Thanks to Don Boudreaux, who also posted it at one of my favorite blogs, Cafe Hayek.
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Posted in Correspondence, Economics, Immigration, International, Nanny State, Political Animals, Public Choice