Starting in late 2007, faced with acute financial market distress, the Federal Reserve created programs to keep credit flowing to households and businesses. The loans extended under those programs helped stabilize the financial system.
Let's abolish the IRS, let's eliminate income tax, let's eliminate corporate tax, let's balance the federal budget, and if we need a tax, it can be one federal consumption tax.
Sherlock Holmes observed that once you have eliminated the impossible then whatever remains, however improbable, must be the answer. I, however, do not like to eliminate the impossible.
It is impossible to manage the health care requirements of tens of millions of American citizens at the federal level. It is impossible to manage all of the permutations of people's economic aspirations and lives through a complex tax code. It is impossible to try to second-guess the market. It is impossible, from a managerial standpoint, for the federal government to do the things it is trying to do today.
Once you eliminate the impossible, whatever remains, no matter how improbable, must be the truth.
Every year the Federal Government wastes billions of dollars as a result of overpayments of government agencies, misuse of government credit cards, abuse of the Federal entitlement programs, and the mismanagement of the Federal bureaucracy.
When it comes to federal programs, even if states are discriminating, the federal government should not.
Not surprisingly, the federal judiciary nearly always rules in favor of the federal government. Judicial review, contrary to the assurances of its advocates, has hardly restrained Congress at all. Instead it has progressively stripped the states of their traditional powers, while allowing federal power to grow unchecked.
Once I completed the Cube and demonstrated it to my students, I realized it was nearly impossible to put down.
Eliminate the impossible. Then if nothing remains, some part of the 'impossible' was possible.
Far too many government spending programs have gone years, even decades, without being reauthorized, leaving the American people less able to effectively review, rethink, and possibly eliminate government programs.
If every animal shelter in the United States embraced the No Kill philosophy and the programs and services that make it possible, we would save nearly four million dogs and cats who are scheduled to die in shelters this year, and the year after that. It is not an impossible dream.
The central question is whether Medicare and Medicaid should remain entitlement programs guaranteeing a certain amount of care, as Democrats believe, or become defined contribution programs in which federal spending is capped, as Republicans suggest.
Federal transfers are not even a zero-sum proposition; they are a negative-sum proposition, leaking value at every step of the way, thanks to the costs of collecting federal tax dollars, then trickling them back out to the states' own costly bureaucracies via federal paper-pushers who write and oversee grant programs.
The frustrations have been festering for 12 years because federal policy has forced immigration into this area with no programs to accommodate this thrust and no dollars for education or jobs or social services...we have become a repository but no beneficiary of federal actions.
Puerto Rico loses out on billions of dollars annually because it is treated unequally under a range of federal programs, including tax credits available to millions of households in the States that do not pay federal income taxes.