Entries by Bill Fletcher

What's Wrong With the Economy?

Why are so many people unhappy and angry? Why is the electorate turning to populist candidates like Bernie Sanders and Donald Trump? Why are they so mad at the Washington D.C. establishment? What’s the problem? Perhaps the biggest problem is the low growth of the economy leading to fewer job opportunities and little or no […]

Where Do All the Jobs Come From?

You can be forgiven if you think that the government creates jobs. Politicians try to justify almost any policy as creating or protecting jobs. This is usually not true. Also, at what cost? If we bail out a failing company or keep open a government facility or military base that’s no longer needed, we are […]

Where Did All The Vehicles Come From?

Have you ever wondered where all the vehicles come from? Stand by the side of a busy road and count the first 100 to 200 vehicles that pass by. One could bet that no two vehicles would be exactly alike. There would be vehicles from more than a dozen various manufacturers, a few domestic and […]

Has Sacramento really balanced the state’s budget?

Thanks to Proposition 30 with its retroactive tax increase and an improving economy, the state claims that it has balanced its General Fund budget.  This may be technically correct but ignores some very unpleasant realities. Claiming to have balanced the budget ignores the growing unfunded liabilities associated with public employee pensions and other unfunded retirement […]

How to Think About Debt

Summary:  Balancing the budget is a good idea and receives a lot of press. However, the budget is far less important than the steady growth of debts, unfunded obligations, and entitlements. These items are stealthy future deficits. To really understand whether or not we have financially sustainable government budgets, we have to go to the balance […]