In the first of a series of papers examining trends in Texas government, the Foundation looks at the growth of state government spending over the past two decades and compares it to how state spending might have looked had it been limited to the growth of population plus inflation.
D.C. Doesn’t Just Spend Too Much Money, It Spends On The Wrong Things
Can you imagine China, Russia, or Iran spending trillions of dollars to remove any fraction of the carbon dioxide they’re pumping into the air? When corporations — and people — misallocate capital, they tend to suffer. Of course, whether capital is misallocated is sometimes only fully understood after the fullness of time. The People’s Republic...