By Doug Bandow If logic decided policy in Washington, federal spending would be low, the budget would be balanced, the benefits of regulations would exceed the costs, and policymakers would guard against unintended consequences.  Unfortunately, the nation’s capital is largely impervious to logic, and the tragic results are obvious for all to see. Emotion and intention seem to have become the principal determinants of government policy. ...

A nationwide study found Hawaii ranks number 43 nationwide as one of the states whose finances are reaching a critical point. The study, which was conducted by the Mercatus Center at George Mason University, considered and weighted a variety of financial indices, including cash solvency, budget solvency, long-run solvency, and service level solvency, in formulating their rankings. Though the report specifies that the findings reveal a,...

By Malia Hill No one is going to faint from shock when I mention that Hawaii state spending for fiscal year 2012 outstripped income yet again, making us one of Truth in Accounting’s “turkey states”—that’s the thirteen states that overspent their income in 2012 despite the recovering economy. There’s some comfort to be found in the fact that we’re not the biggest turkey in the bunch. That dubious distinction goes to New Jersey,...

By Lloyd Lim Some complain that deficit reduction will hurt the economy and that we should wait until the economy gets better.  The problem with this idea is that with high unemployment, stagnant wages, heavy regulation and a big debt that presages inflation, high interest rates and additional taxes, there is nothing to suggest that the economy is going to get much better.  In the 1990’s we had increased productivity due to computers. ...

By Tom Giovanetti, President of the Institute for Policy Innovation The “right” price for anything is the price that results from the interaction between supply and demand in a functioning marketplace. There’s nothing controversial about that—it’s how anyone with the most basic understanding of economics understands price. Governments often cannot resist meddling with prices. Typically, when a government intervenes in a market to...