A limited constitutional government calls for a rules-based, freemarket monetary system, not the topsy-turvy fiat dollar that now exists under central banking. This issue of the Cato Journal examines the case for alternatives to central banking and the reforms needed to move toward free-market money.
Americans are finally enjoying an improving economy after years of recession and slow growth. The unemployment rate is dropping, the economy is expanding, and public confidence is rising. Surely our economic crisis is behind us. Or is it? In Going for Broke: Deficits, Debt, and the Entitlement Crisis, Cato scholar Michael D. Tanner examines the growing national debt and its dire implications for our future and explains why a looming financial meltdown may be far worse than anyone expects.
The Cato Institute has released its 2014 Annual Report, which documents a dynamic year of growth and productivity. “Libertarianism is the philosophy of freedom,” Cato’s David Boaz writes in his book, The Libertarian Mind. “It is the indispensable framework for the future.” And as the new report demonstrates, the Cato Institute, thanks largely to the generosity of our Sponsors, is leading the charge to apply this framework across the policy spectrum.
Medicaid’s Soaring Costs: Time to Step on the Brakes
Featuring Sen. Judd Gregg (R-NH), Member, Senate Budget Committee, Jagadeesh Gokhale, Cato Institute, and John Holahan, Urban Institute.
Medicaid lacks even a fictional trust fund and an annual trustees’ report so the massive program’s fiscal outlook receives less attention than other entitlements. Yet a new Cato Institute study suggests that Medicaid’s fiscal outlook is every bit as dire as those of Social Security and Medicare. Cato senior fellow Jagadeesh Gokhale estimates that the discounted present value of just federal Medicaid spending over the next 100 years equals $21 trillion. If the federal government continues to match state Medicaid outlays at the current rate, by the year 2106 Medicaid alone will consume 13 percent of GDP — eight times its current share. Gokhale argues that limiting the growth of Medicaid spending is essential to restoring the federal government’s financial health. Please join us for a discussion of Medicaid’s fiscal outlook and Gokhale’s projections by Senator Gregg and John Holahan, leading authorities on Medicaid and the federal budget.