I've frequently argued that, as the state faces an unfunded pension liability that's as high as $500 billion, legislators are not doing anything about a problem that is depleting public services and imposing additional debt and tax burdens on Californians.
Recent scandals, runaway spending and ongoing fiscal crises have all boosted interest in lobbying. Washington, D.C., draws much of the new interest, but states, including Maryland, also deserve scrutiny.
Montana may be called the Treasure State, but its economy continues to struggle, with an unemployment rate of 7.1 percent. If lawmakers want to put people back to work, without costing taxpayers another penny for "stimulus," they can enact desperately needed lawsuit reforms.
The BP oil spill has prompted calls for more federal regulatory power. Yet the behavior of the federal bureaucrats who were supposed to prevent this type of disaster provides no reason to expect better outcomes with more bureaucracy.
In 2001 and 2003, under the administration of George W. Bush, Congress passed significant tax reductions. These will expire on December 31, if Congress does nothing. Instead, Congress should seize the opportunity to show economic leadership, by extending the cuts and cutting federal spending.
Some contend that to stimulate the economy, the government should spend and borrow more. This argument ignores a central reason for the lack of job creation: policy-induced uncertainty.
Business & Economics
