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.
Shared Sacrifice: Delaying the Medicare Drug Benefit
Sen. John McCain
Rep. Jim Cooper
Rep. Jeff Flake
Director of Health Policy Studies, Cato Institute
Louisiana’s congressional delegation has requested $250 billion from the taxpayers to rebuild that one state alone. President Bush and congressional leaders have promised billions of dollars for reconstruction. But without a plan to pay for it, the new spending will blow a hole in the federal budget and soak future generations. The devastation wrought by Hurricanes Katrina and Rita demands leadership and a re-evaluation of spending priorities, first and foremost the costly and unwise Medicare prescription drug benefit set to take effect in January. At this Cato briefing, speakers will argue that Congress should at least delay implementation of the Medicare drug benefit to pay for hurricane relief. A two-year delay that retains “transitional” assistance for low-income seniors would save $84 billion.