Wyoming Liberty Group
Boyd Wiggam discussed the ongoing Wyoming Business Alliance Tour 23 series and government-driven economic development issues with Chuck Gray on KVOC. June 4, 2015
In my Op-Ed in The Hill today I explain why we need to add a Balanced Budget Amendment to the U.S. Constitution:
Inevitably, a debt crisis is coming. We know it will happen - the only uncertain thing about it is to forecast when it will happen. Practically no economist was able to predict the unfolding of the current European government debt crisis. On the contrary, many forecasts were still predicting “business as usual” as late as in 2007. It is just as difficult to say when the U.S. debt becomes an acute crisis. All we know is that the crisis will come. That is as certain as an earthquake in California. And that makes the Obama budget all the more irresponsible. Fortunately, there are some encouraging signs of fledgling fiscal responsibility in Congress. The GOP budget for 2016 slowly reduces the deficit over nine years and balances the budget by 2025. This is a welcome change for the better. There is just one caveat. The GOP budget won't become actual policy unless the Republicans win the next five Congressional elections and the next three presidential elections. We need a better insurance policy against the looming debt earthquake. It is time to reopen the case for a balanced budget amendment to the constitution.
“Freedom is never more than one generation away from extinction.” – President Reagan
More than a quarter century has passed since the Berlin Wall fell. The average American college student was born years after the subsequent reunification of Germany. How many Americans under 30 have a living memory of the “Soviet Union”?
What can state pension reform advocates learn from Masutatsu Oyama?
A great deal. Mr. Oyama - or Sosai Oyama as he should properly be referred to - was the founder of kyokushin karate, one of the toughest striking styles of martial arts ever invented. To prove just how tough his style was, Sosai Oyama fought full-grown bulls using nothing but his hands, his feet and the devastating techniques that constitute kyokushin karate.
The American welfare state is alive and kicking, with steady growth in spending in typical welfare-state areas such as welfare, health care and education. During the Great Recession America's welfare state has proven to be impervious to the general macroeconomic conditions of the nation's economy.
Over the last couple of weeks I have pushed strongly on the need for major reforms to the Wyoming economy. Specifically, our state lawmakers and our governor must focus on two problems, which basically are communicating vessels and soluble only when addressed together:
- The looming deficit in the state budget, which is really a structural deficit unmasked by deflating minerals prices; and
- Our big government sector, with high levels of welfare-state spending and large ranks of state and - especially - local government employees.