Budgets & Deficits


Miserabilism and Money: Why More Stimulus Is A Bad Idea (part 2)

Part 1 of this post (published last week) argued that the strong economic recovery the United States experienced in 2020 signifies that there is little real need for additional government stimulus. It also pointed out that the first stimulus package cost the nation $3 trillion but ultimately has played only a minor role in the economic rebound to date. The

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Miserabilism and Money: Why More Stimulus Is A Bad Idea (part 1)

Last year’s COVID-19 stimulus and relief packages enacted by the Federal government played some positive role in helping the U.S. economy weather the pandemic-driven recession that has had such a profound impact on our lives. But it will be counter-productive for the nation to engage in another stimulus package. Key Points: The structure of the stimulus efforts means most of

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Autonomous Cars On The Way… What Do They Mean For Infrastructure Investment?

Here in Los Angeles, the first thing visitors learn is that our public transportation system won’t get them anywhere. The second thing they learn is that, according to legend, Henry Ford is the reason why. Car manufacturers (tire manufacturers in some retellings) tore up all of the train lines in Los Angeles in the early 20th century to make way

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School Construction Bonds: A Matter of Fairness

Governor Jerry Brown announced in his recent budget proposal that California should stop issuing school construction bonds. This came as a bit of a surprise to many. School bonds generally cruise through the State Legislature and very rarely fail at the ballot box. The State Assembly unanimously passed a $9 billion bond initiative last year before it stalled with the

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