John Goodman

The $3.5T Spending Mistake

The $3.5T Spending Mistake

Congressional Democrats are proposing to spend an enormous amount of taxpayer dollars on what the New York Times calls a “cradle to the grave” addition to U.S. social welfare. When budgeting shenanigans are ignored, the Committee for a Responsible Federal Budget estimates that the full cost is not the $3.5 trillion that has been widely advertised, but at least $5.0 trillion and possibly as much as $5.5 trillion.

read more
Congress v. Seniors

Congress v. Seniors

After years of advocating a level playing field, on which traditional Medicare competes against private Medicare Advantage plans, Democrats are now proposing to tilt the scales. They are proposing a hearing, vison and dental benefit for traditional Medicare, while stiffing the private plans. The proposal will make seniors worse off whenever they switch to or from a Medicare Advantage plan.

read more
Social Security Debt up $6.8T

Social Security Debt up $6.8T

The Social Security Trustees have released their annual report on the system’s finances. The news is awful. Social Security’s unfunded liability is an enormous $59.8 trillion. That’s over 2.5 times the size of the U.S. economy. Even more disturbing is the change since last year’s report. The system’s unfunded liability grew by $6.8 trillion. In other words, while Congress has been arguing over whether we can afford $3.5T in new spending, the debt we are leaving to our children grew by almost twice that amount without Congress lifting a finger.

But unlike the change in official debt, Social Security’s deficits are carefully kept off the books — for political, not economic reasons. Consequently, not a single media outlet we know of has reported these numbers

read more
The Politics of Health

The Politics of Health

In almost all recent polling, voters say health care is their number one concern. They also trust Democrats more than Republicans on the issue. But why?

Obamacare is the most flawed health system Americans ever created. If you combine the average premium and the average deductible people faced last year, a family of four with Obamacare insurance had to spend $25,000 before getting any benefits from their Obamacare plan. And in most places, the best doctors and the best hospitals are not included in Obamacare plan’s narrow networks. More

read more
Goodman: Why we are Divided

Goodman: Why we are Divided

The liberal media is panicking over the prospect of Larry Elder becoming governor of California. An editorial in the New York Times by Farhad Manjoo, for example, declares the Elder candidacy a “looming disaster,” a “liberal nightmare” and a possibility that is “as serious as a heart attack.” For Times editorial writer Paul Krugman, the possibility is even more frightening. Elder, he says, would be a “Trumpist governor” whose election would produce “awesome consequences” – all bad, of course.

read more
The Truth About Inequality

The Truth About Inequality

Inequality is almost universally condemned by the intellectual elite. But most of the rest of the world doesn’t think inequality is such a bad thing. According to polling by Gallup, there are 138 million people in the world today who would like to immigrate to the United States. Most of these people are poor. They tend to live in egalitarian surroundings – they and their neighbors are all equally poor. (The country with the highest percentage of would-be immigrants is Liberia.) Yet they want to come to a country with a great deal of inequality, knowing they would start out at the bottom of the income ladder.

read more
Where Have all the Economists Gone? (Environment)

Where Have all the Economists Gone? (Environment)

What does the average economist know about environmental science? Probably no more than any other reasonably educated person. Yet economists have three talents that are sorely missing from most discussions of environmental policy – particularly policies related to climate change. They understand (1) the scientific method, (2) cost-benefit analysis and (3) how costs and benefits affecting different generations can be evaluated over time.

read more