No government has ever spent its way to prosperity. Our proposals help governments be fiscally responsible so citizens can be prosperous.
Source: JLBC Appropriations Reports
* Real Per-Capita General Fund Spending
New York Times columnist and Princeton economist Paul Krugman is among the most passionate advocates for honest-to-God socialized medicine. His solution to Americas health care problems is the Veterans Health Administration, whose success story is one of the best kept secrets in the American policy debate.
In light of recent events, the secret seems to be how shabbily government hospitals treat their patients.
There's something about our nation's capital that converts many leading Democrats to school choice. But in most cases this extends only to their own children--not to the millions of children in failing public schools.
Indeed, a nearly perfect correlation exists among Democratic presidential candidates who have exercised school choice for their own children and those who would deny such choices to other parents.
Good St. Patrick traveled far, to teach God's Holy Word
And when he came to Erin's sod, a wondrous thing occurred
According to the new legend about Ireland, that wondrous thing was biotech boosting the country's economy. But the Goldwater Institute's new study, Miracle on Kildare Street: What Ireland's Economic Revival Means for Arizona, reveals the truth about the Celtic Tiger's growth--and it has nothing to do with state spending on biotech.
Between education, health care, and highways, Arizona's budget is stretched pretty thin. So thin, in fact, that Governor Napolitano wants to borrow money from future generations to pay for todays expenses.
Rather than saddle future generations with todays bills, Arizona should find a way to pay them. Lowering them is a place to start. This year Arizona appropriated about $810 million to the states two largest public universities, Arizona State University and the University of Arizona, a ten percent increase over the previous year.
Governor Janet Napolitano once said, we must prepare young people for a brain-centered economy whose one constant is rapid change. Catch phrases like this are often used to justify new programs like the 21st Century Fund for biosciences and the National Governors Association Innovation America plan. These and other programs are touted as the key to keeping Arizona's economy growing.
The underlying principle of almost all magic is misdirection. Magicians tell their audiences to watch this hand, while performing their trick with the other. Governments do much the same thing in order to keep expanding their budgets.
Governments favorite trick is debt financing. From interest rates to payment schedules, debt financing is complex, making it easier to mislead voters. When campaigning for debt financing, policymakers tell voters they will be the beneficiaries of millions in new spending without having their taxes raised.
Benjamin Franklin once said he would rather go to bed without dinner than to rise in debt. Not so for Governor Napolitano. For example, the governors latest budget adds over $1 billion in new debt to the states outstanding balance of $8.2 billion.
As any credit card holding American knows, spending money on credit means interest payments. Over the next three years, Arizona will pay out $630 million in interest alone more than twice the general fund budget for public safety in the previous three years combined.
The proposal to tap into the rainy day fund to pay for highways was defeated in the state legislature. In response, the Arizona Republic noted: That leaves Gov. Janet Napolitano's proposal to issue 30-year bonds, and a long shot bid to raise the state gasoline tax, as the only ideas still on the legislative agenda for a short-term fix for congestion woes.
*Publishers note: Today Road Rage launches a new Goldwater Institute feature called At a Glance. At a Glance will be published near the first of every month and will feature a chart, picture or graphic that illustrates a key policy issue facing Arizona. We hope you enjoy At a Glance and would like to ask for your help with it. If you see a chart or graph that the Goldwater Institute should publish, please send it to Starlee Rhoades, email@example.com.