by Wesley Fox Over the last two years, many states have faced large budget shortfalls due to declines in revenue and continued spending at unaffordable rates. Some have dramatically cutback spending to balance their budgets, while others have raised taxes. The CATO Institute’s Fiscal Policy Report Card provides an excellent assessment of the responses of U.S. governors...

by John Tillman Since the tax hike fight of 2009 (the picture on the left is from my debate on Fox 32 on the merits of a tax hike versus spending reforms – see it here) we have been saying some simple things at the Illinois Policy Institute.  First, our problems are rooted in structural overspending.  Second,...

by Ashley Muchow Long has it been the case that Washington politicians turn to the Zandi multiplier to justify stimulus spending under the conjecture that such spending triggers economic growth.  Mark Zandi, of Moody’s Economy.com, is regularly consulted by politicians and the press for his “Fiscal Economic Bang for the Buck” chart postulating that spending initiatives, such...