They say journalism is the first rough draft of history.

A bipartisan Congressional group is eager to borrow and spend another $900 billion on a new COVID-19 bill. Yet they appear determined to repeat the most wasteful political stunt of the last “stimulus bill.”

Congress is debating another aid package for the states and private sector. Further aid for the states is a bad idea.

Cato adjunct scholar John Cochrane has written a great piece on “national debt denial,” which I recommend reading in full.

The Bureau of Economic Analysis released estimates of third quarter gross domestic product (GDP).

The Congressional Budget Office has released new estimates. Federal government spending jumped from $4.5 trillion in fiscal 2019 to $6.6 trillion in fiscal 2020, as shown in the chart below. That huge increase was financed by borrowing, the costs of which will land on taxpayers down the road.

Another week, another news story about supposedly imploding state‐local government budgets.

The restaurant industry has been hit hard by the health crisis and recession.

The Wall Street Journal published a news story suggesting that public schools face ruin without more federal aid.

Faced with an escalating pandemic in March, the President and most governors did not want to “stimulate” the private economy.