Democracy’s Death Spiral

John C. Goodman writes:  On Monday, Puerto Rico missed a payment on $422 million worth of bonds. If the United States doesn’t come to the rescue, this will be only the first of many defaults to come. In all, the island has $72 billion in debt and an additional $46 billion in unfunded pension liabilities — totaling more than the country’s annual GDP. As debt…

 

Four Reasons Why Government Spending Is Even Worse Than Taxes

Ryan McMaken says:  Every year around tax time, we’re reminded of the pain of the income tax. We’re reminded not just of the wealth that is taken, but also of all the time and energy that must be expended helping the federal government estimate just how much they should take from us this year.  

 

Senate hits budget wall with deadline looming; Mitch McConnell counts on Democrats

Apr 9th, 2016 * RECOMMENDED READINGS, Budget William Nissen 1 min read

The Senate will likely miss the deadline for approving a federal budget, forgoing the annual blueprint that is supposed to govern all spending, and instead will write bills based on a higher dollar total than the one John A. Boehner, Ohio Republican, agreed to with President Obama last year before stepping down as House speaker.