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.
Nuclear Weapons Spending and the Future of the Arsenal
Featuring Stephen I. Schwartz, Editor, Nonproliferation Review, James Martin Center for Nonproliferation Studies of the Monterey Institute of International Studies, and principal author, Nuclear Security Spending: Assessing Costs, Examining Priorities; and Christopher Preble, Director of Foreign Policy Studies, Cato Institute, and author, The Power Problem: How American Military Dominance Makes Us Less Safe, Less Prosperous, and Less Free.
The U.S. nuclear arsenal is enormous and expensive. Few Americans understand just how costly it is, however, because the program is one of the least transparent features of the massive federal budget. The most comprehensive study of nuclear weapons spending concluded that U.S. taxpayers spent at least $52.8 billion in fiscal year 2008 but estimated the actual top-line budget, which includes classified and intelligence-related activities, to be much higher. Do such expenditures keep us safe? Can better congressional oversight succeed in bringing down the high costs? Does U.S. security depend on a nuclear arsenal that contains more than 5,000 warheads? In advance of the Obama administration’s release of the nuclear posture review, please join Christopher Preble and Stephen Schwartz for a discussion of the costs and risks associated with the U.S. nuclear arsenal, and hear their proposals for alternative approaches to advancing U.S. security.