Federal Spending

Off Budget Spending: The Growth of Underground Government

The distinguishing characteristic of the welfare state is that, over time, the distribution of wealth and the allocation of resources in a society are increasingly controlled by government rather than…

The Nation's Largest Municipal Bankruptcy: The Tip Of The Off-budget Iceburg

A recent article in Fortune magazine has the eye-catching title "Nuclear Fiasco Shakes the Bond Market." The fiasco is not a melt down, but what the article describe as the "squalor and fantastic wast…