Reforming the congressional budget process is no substitute for actual policy changes that can correct the government’s fiscal problems. Yet according to a new study published by the Mercatus Center at George Mason University, the right kinds of process reforms can open up new potential for agreement between Congress and the president and can focus attention on long-term spending commitments.
The following charts are an update to my previous chart, which showed the top 10 foreign buyers of exports financed by the US Export-Import Bank from FY 2007 to FY 2013. That chart noted that foreign oil and airline companies dominated the list. The first new chart shows the top foreign oil companies that have purchased Ex-Im–financed exports during that time, based on the total amount of financing authorized. The second new chart provides the same information for foreign airline companies.
Policymakers who are interested in supporting the entrepreneurs and companies that will deliver the next generation of energy supplies and products should focus their attention on correcting the federal government’s hostile tax climate and dispense with the futile hopes of outsmarting the marketplace.
Elected officials around the country are considering reforms to public employee retirement plans—and with good reason. The costs of these plans have risen significantly in recent years and the increasing risk of pension investments threaten to destabilize government budgets. Many reform options are available and policymakers should consider how much cost and risk taxpayers are willing and able to bear.
In an article to be published in the Harvard Journal of Law & Public Policy in conjunction with
the Mercatus Center at George Mason University, legal scholar Timothy Sandefur explores the
history, theory, and operation of CPCN laws, also known as “Competitor Veto” laws, focusing on
evidence uncovered as part of litigation challenging such laws in Missouri and Kentucky. The
article concludes that because these laws are designed to protect incumbent businesses, there
must be reforms on the federal level to abolish them. Several possible reforms are considered,
along with objections.
My objective this morning is to assist you in understanding the tradeoffs that are involved in any pension reform decision so that you can make the best choice for the commonwealth, in view of the fact that the current unfunded liability of PSERS and SERS is a staggering $135,000 per active member.
Thirty-six states and the District of Columbia currently limit entry or expansion of health care facilities through certificate-of-need (CON) programs. These programs prohibit health care providers from entering new markets or making changes to their existing capacity without first gaining the approval of state regulators.
Social Security’s trustees have long warned Congress to address the troubled finances of the Disability Insurance (DI) program. Given the DI trust fund’s projected exhaustion date of 2016, legislation will be required during this Congress to prevent large, sudden benefit cuts.
To date, the Kansas legislature has barred the governor from expanding Medicaid. To reverse this action, the legislature would need an affirmative vote to proceed with the expansion. This testimony will lay out four reasons why it would be unwise for Kansas to expand Medicaid.
This week’s chart series shows that the five largest banks (by assets) in Q4 2014 held 46 percent of US banking assets and 40 percent of domestic deposits. That’s up from 28 percent and 20 percent, respectively, in early Q1 2000.
Join Tyler Cowen and Peter Thiel in a serious dialogue on the ideas and policies that will shape the future of innovation and progress. This is the inaugural event of the Mercatus Center’s new Conversations with Tyler event series.