In spite of their complaints about federal overreach, state policymakers are addicted to handouts from Washington because it allows them to spend “free” money instead of asking their constituents to come up with funds via higher taxes. Unfortunately, federal money is not “free,” and the consequence of the federal government’s funding what are properly state and local responsibilities is excessive growth of government at all levels.
This week’s chart uses data from federal websites and budget documents to display the federal offices whose missions are directly dedicated to cybersecurity monitoring, provision, and preparedness. Information in a 2013 Government Accountability Office (GAO) report, “Cybersecurity: National Strategy, Roles, and Responsibilities Need to Be Better Defined and More Effectively Implemented,” provided the names of several agencies and high offices tasked with coordinating both internal federal cybersecurity and public-private coordination.
This week’s chart shows total funding for the Department of Defense from fiscal year 1948 to fiscal year 2015 in inflation-adjusted 2015 dollars. Funding for the OCO account, first delineated following the 9/11 terrorist attacks, is separated out.
This week’s chart shows the sharp increase in the number of patents over the past three decades, using data from the US Patent and Trademark Office to display the total number of patents that have been extended from 1900 to 2014.
This week’s main chart shows that both proposals would reduce the growth in spending versus the Congressional Budget Office’s baseline. On the House side, spending would go from $3.8 trillion in fiscal year 2016 to $5.1 trillion in fiscal year 2025 for a total of $43 trillion over ten years.
The following charts are the third in a series looking at the top foreign buyers of exports financed by the US Export-Import Bank (Ex-Im) from FY 2007 to FY 2013. The first new chart shows the total dollar amount of deals financed by Ex-Im in which the primary buyer was listed as being “unknown” or “various” in data made available to the public. It shows that 33 percent of the deals in Ex-Im’s public database used these vague labels.
The average adult reads prose text at a rate of 250 to 300 words per minute. If you read the Code of Federal Regulations at 300 words per minute on a full-time basis, it would take you nearly three years to get through just the version of the CFR published in 2012. That’s about 58 times longer than it would take to read through the five volumes currently published in George R. R. Martin’s fantasy saga, A Song of Ice and Fire. Or 220 times longer than it would take to read through The Lord of the Rings from the original R. R. of fantasy—J. R. R. Tolkien.
Auto franchise laws often include three major restrictions: mandatory dealership licensing requirements, onerous terms for terminating dealerships, and the creation of exclusive territories for incumbent dealers. Each rule carries a potential cost for consumers. The coverage of these laws has expanded significantly during the past 30 years.
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.
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.
Tyler Cowen and Jeffrey Sachs discuss the resource curse, why Russia failed and Poland succeeded, charter cities, Sach's China optimism, JFK, Paul Rosenstein-Rodan, whether Africa will be able to overcome the middle income trap, Paul Krugman, Sach's favorite novel, premature deindustrialization, and how to reform graduate economics education.
The Mercatus Center invites you to join Dr. Veronique de Rugy for an examination of the justifications supporting continued authorization of the Export-Import Bank and the economic realities of those claims.
This book demonstrates unmistakably that the growth of government stymies entrepreneurship and threatens prosperity—a demonstration that, it is hoped, will help inspire efforts not just to slow, but to reverse, this growth and return to prosperity.