The Federal Reserve’s Open Market Committee met this week and decided to let its most recent monetary easing program end as scheduled. Chairman Ben Bernanke also held a news conference where he took questions from reporters on Fed policy. This…
Medicare hurting a lot worse than Social Security
Federal outlays for Social Security and Medicare, our nation’s two largest entitlement programs, will come to $1.24 trillion this fiscal year, almost exactly one-third of all spending. Neither program’s financing is fully sustainable over the long run. Medicare’s problems, however,…
Comparing national systems can provide insights
There is more than one way to skin an economic cat. That may sound obvious, but not all economists believe it. Many on both sides of the political spectrum believe their ideas are the only path to national economic success.…
Against entitlements? Abolish Medicare drug benefits
If you are concerned about the inexorable growth of entitlement spending and want to cut federal deficits, there is an obvious first step: Repeal the $60 billion per-year Medicare drug benefit, Part D, and eliminate the Medicare Advantage plans that…