Just like the United States, Australia has a debt ceiling. Australian borrowing bumps up against this ceiling on a regular basis. But there the similarity ends.
Following on the heels of the 2008 global financial crisis and the associated spike in government borrowing in Europe and the United States, the Reinhart-Rogoff paper quickly became a touchstone for the small-government crowd. Austerity is the order of the day. Reinhart and Rogoff are its prophets.
Call it vote-buying if you want, but when a government effectively buys the votes of 80 or 90 percent of the population, I call that government of the people, by the people, for the people.
The debt ceiling gives the President enormous power. Instead of letting the Republicans dictate terms to him, he should dictate terms to the Republicans. Here’s how to do it.
Europeans must decide whether their societies are to be governed by the people, for the people or by the market, for the market.
Federal workers have it hard enough without Congress playing politics with their paychecks and pensions.
Congress should stop playing politics with the payroll tax cut and make it permanent by extending Social Security taxes to everyone.
All workers should pay Social Security taxes, including those with six, seven, and eight figure incomes.
Government workers are standing against a wave of austerity that threatens to swamp us all.
It’s time to tax and spend