The federal government spends far more on healthcare than defense, and health spending is surging.

There's a debate to be had about how best to use public resources on defense, but the idea that we shortchange domestic spending for defense is complete nonsense.

The basic elements of economic theory are, of course, the actions of human beings. The science consists in the efforts to predict the effects on human behavior induced by specific changes in the environment.

#JamesBuchanan #PublicChoice ow.ly/yuoK50RxAG9

WATCH | AIER's Paul Mueller joins LiveNOW from FOX's Andrew Craft to talk interest rates, which are remaining steady: fox13seattle.com/news/what-high….
#interestrates #inflation

My latest for American Institute for Economic Research: Why Texas' economic freedom - and economic performance - are good, yet overrated by many (especially Texans!).

ICYMI: Treasury Department released Social Security and Medicare Trust Fund Reports. Shortfalls:
#SocialSecurity : $25.4 Trillion
#Medicare : $52.8 Trillion
Total: $78.2 Trillion
Remember, these numbers are NOT included in the National Debt!
home.treasury.gov/news/press-rel…

'We have long known that Social Security is on an unsustainable financial path,' writes Bipartisan Policy Center's Jason J. Fichtner. 'Too few politicians are willing to propose serious reforms and make the difficult choices needed to strengthen and save the program.' buff.ly/3wqZxQK

The Economic Consequences of Government Regulations with James Broughel Competitive Enterprise Institute | Let People Prosper Ep. 95

-Which regs are worst?
-Why cost-benefit analyses?
-Are there 'free lunches'?

Subscribe to my newsletter for insights + bi-weekly episodes at vanceginn.substack.com/p/248-the-econ….

Never listen to the degrowthers.

Latest GDP nowcasts for Q2:
ATL: 3.3%
NY: 2.23%
STL: 1.71%
FWIW, last quarter, STL regained the crown for being closest:

Rest in Peace #BernardHill . Seeing The Return of the King in theaters, especially 'The Ride of the Rohirrim' scene, was one of my favorite childhood memories.
youtu.be/7lwJOxN_gXc?si…

'I believe consumers are pulling back, I don't think we're at 'recession levels yet.' Thanks to Andrew Craft LiveNOW from FOX & Thomas Savidge American Institute for Economic Research for a robust conversation on the Jobs picture and the U.S. Economy. livenowfox.com/video/1450925

ICYMI, I propose modest changes to make monetary policy more transparent and rules-based, while still allowing the Fed flexibility.

My latest at American Institute for Economic Research on the usefulness of market concentration measures as an indicator of monopoly power aier.org/article/does-m…

If men were angels, no government would be necessary. If angels were to govern men, neither external nor internal controls on government would be necessary.

#JamesMadison #FederalistPapers ow.ly/v5mq50RuXrH

Why do governments love their monopoly on money? Yes, to raise revenue. But all monopolies can do that.

Why money? How has that relationship changed over time?

In this week's newsletter, Josh Hendrickson explains his research on 'The Treasury Standard'
economicforces.xyz/p/the-treasury…

NEW from me. My op-ed for City Journal takes on the stale myth that fixing Social Security is as easy as eliminating the $168k wage cap on its FICA taxes.

SocSec deficits would return in 5 years, and nearly all other 'tax-the-rich' priorities left behind.
city-journal.org/article/raisin…

.Samuel Gregg, 2024 Bradley Prize winner and @AIER's Friedrich Hayek Chair in Economics and Economic History, joins Bradley Foundation's Voices of Freedom podcast to share his thoughts on how to keep America’s entrepreneurial vitality strong, as well as insights into current economic…

We're excited to be partnering with CiVL, and you'll soon be able to watch some new freedom-oriented content from American Institute for Economic Research!

To view content that inspires and join a vibrant community that values human freedom and civility follow CiVL ➡️ watch.civl.com.

Cc.…

What does national debt and decline look like across decades? Should we take notes?
Consider the case of Japan outlined by David L. Bahnsen in this conversation with Veronique de Rugy:

podcasts.apple.com/us/podcast/wha…

Taxpayers deserve to have their money spent wisely on public goods and services, and that includes paying the salaries of public sector employees working to provide those goods and services. ~Gretchen Baldau l Time for #Union Release Time Transparency?
alec.org/article/time-f…