The nation’s growing debt is a growing threat to economic freedom as we know it. Households across the U.S. are running on tight budgets, while the federal government is spending more than it takes, putting the burden squarely on the shoulders of hard working Americans and future generations. Washington’s reckless spending of our tax dollars is leading our country to unsustainable levels of debt, impeding sustainable economic growth and hindering the private sector’s ability to invest, produce and create jobs. At the same time, government spending has increased as a share of the economy and private sector activity has declined in proportion. Simply put, when government spending greatly increases, economic growth noticeably declines. The federal government must make the same hard choices as many families have, to budget responsibly and reduce spending to get the nation’s economy back on track. Despite enormous government intervention, we have witnessed dismal growth. Higher borrowing, higher taxes, and increased regulation are all examples of government intervention that hinder the health of the economy and must be addressed if we are to experience real growth, real prosperity and sustainable jobs.

Posts

The LIBRE Initiative logo

Venezuela After 2018 

How Venezuela Failed — and What it Can Do to Recover  In Nov. 2018, Venezuelan President Nicolas Maduro raised the country’s minimum wage a whopping 150 percent to 4,500 bolivars. Prior to that, he ratcheted the minimum wage up 60-fold in August.  What happened? Did Venezuela suddenly become extraordinarily wealthy again — after a lengthy period of economic dysfunction — carrying wages to … Read More
New Report Shows How Bad Wasteful Spending Is Hurting America

New Report Shows How Bad Wasteful Government Spending Is Hurting America

The American government has a spending problem, and it’s growing out of control. A new report recently released by the Congressional Budget Office says this year the federal deficit will reach $804 billion this year. By the year 2020, the U.S. will be adding more than a trillion dollars to the national debt every year. … Read More
Irresponsible Spending and Borrowing Puts Puerto Rico in Crisis

Irresponsible Spending and Borrowing Puts Puerto Rico in Crisis

Puerto Rico’s bankruptcy isn’t just the largest municipal filing in the history of the United States, it’s the latest example of big government’s failed promises. The island is around $123 billion in bond debt and unfunded pension payments—more than six times what the city of Detroit owed when it filed bankruptcy in 2013. That’s around … Read More
Trump’s Budget Sets Stage for Debate on Spending, Latino Families Stand to Gain

Trump’s Budget Sets Stage for Debate on Spending, Latino Families Stand to Gain

Last week, President Donald Trump submitted his administration’s proposed budget for fiscal year 2018. It’s a good first step toward making life better for future generations, especially as it relates to addressing overspending and expanding opportunity. Given the fiscal challenges facing our nation, a budget proposal that begins to curb federal spending sets the stage for … Read More
Fiscal Irresponsibility Just Got More Expensive

Fiscal Irresponsibility Just Got More Expensive

|
For the second time in a decade, the Federal Reserve raised its benchmark interest rate last Wednesday by a quarter of a percentage point and it anticipates more increases in 2017. While this change is generally received as a welcome development by savers – as the money in our savings accounts will finally start yielding … Read More
Wisconsin Ranks Dead Last in Startup Activity for Second Year in a Row

Wisconsin Ranks Dead Last in Startup Activity for Second Year in a Row

For the second year in a row, Wisconsin has come in dead last in a ranking of startup business activity in the fifty states. The poor showing comes amid some positive economic conditions in the Badger State, but underscores the damage that big government, tax and spend economic policies, and cronyism can do to the … Read More

Videos