Mercatus Center Policy Guide
August 7, 2012
The Mercatus Center at George Mason University has published a new policy guide. The guide is designed to provide easily accessible economic information that might prove useful in educating the public regarding spending, taxes, regulation, financial markets and technology policy.
The policy guide is divided into sections focused on spending and taxes, regulatory policy (which includes technology-related research), and financial markets. There are also links to economic charts that may be useful in understanding a number of issues.
Key points in the spending and taxes section include:
- Spending is the source of our fiscal woes.
- Raising taxes will not solve the deficit problem.
- Fundamental entitlement reform must be addressed to ensure America's solvency.
- European-type austerity really consists of raising taxes without lowering spending.
Key points in the regulatory policy section include:
- More is not better.
- The "business as usual" approach to regulation is not serving the best interest of Americans. The flaws are simply too many to overlook.
Key points in the financial markets section include:
- The Consumer Financial Protection Bureau does not address the issues that caused the financial crisis and would not have been able to prevent it. Instead it creates more bureaucracy, and a lack of sufficient oversight gives its director a potentially dangerous amount of authority.
- Financial regulations that don't consider how and why ordinary people actually use credit can push those people into even worse situations.
- The government-sponsored enterprises known as Fannie Mae and Freddie Mac should be wound down, and the government should reduce its role in the mortgage market.
Source: "Mercatus Center Policy Guide," Mercatus Center, August 2012.
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