• [ network ]
  • goatmatrix.net
  • gvid.tv
  • img.gvid.tv
  • speedy.gvid.tv
  • apps.gvid.tv
HomeUploadUpload DirectHotlinkRandomAbouttheme toggle
Expand

5 Facts About Govt Spending: Nick Gillespie at Reason Weekend 2012

Views:939
@ReasonVids

"Politicians are like criminals in Batman comics. They're a superstitious, cowardly lot. And the minute that they know they're going to lose elections because they're spending too much money, they will find their inner cheapskate and start spending less," said Reason's Nick Gillespie during his speech at the Reason Weekend event in Las Vegas.

In "5 Unacknowledged, Unexpected, and Unavoidable Facts about Government Spending and the Economy," Gillespie says politicians such as President Obama and John Boehner are in denial. Influential economists like Paul Krugman and Lawrence Summers correctly diagnose debt as a problem even as they prescribe more debt as the cure.

Gillespie argues that:

• We're spending too much. Two wars, entitlement growth, and a massive stimulus are the results of a spending frenzy over the last decade.

• We've got too much debt. Every level of government is in over their heads. The literal and figurative bankruptcies of cities such as Stockton, California and Harrisburg, Pennsylvania are the canaries in the coal mine.

• Debt overhang kills growth. The latest studies are clear: excessive debt, sustained over long periods of time, hurts economic growth. Beyond the cost of higher interest rate payments, increasingly higher debt loads -- which Gillespie calls "a ziggurat of doom" -- promises to reduce opportunities for everyone.

• Spending growth is driven by entitlements. Since the Great Society programs of the 1960s, the government has switched from providing infrastructure and basic services, to being a national insurance broker. The consequences of this are dire because, as statistician Nate Silver notes, "most of us don't much care for our insurance broker."

• Trust in government is at historic lows. This kind of distrust is an inevitable result of a mismanaged economy. Yet it's also cause for optimism. Public discontent sow the seeds of reform, allowing the possibility of meaningful fiscal reform.

Gillespie's talk, in which he also sketches solutions to long-term economic malaise, is followed by audience Q&A.

Runs about 38 minutes.

Produced by Todd Krainin. Camera by Meredith Bragg and Alex Manning.

Go to http://reason.com/reasontv/2013/04/11/gillespieondebtandspending for downloadable versions and subscribe to ReasonTV's YouTube Channel to receive notifications when new material goes live.

economics
,
national debt
,
deficit
,
paul krugman
,
reason weekend
,
nick gillespie
,
entitlements
    Thumbnail for Why The European Union Will Fail: Q&A with Austrian Economist Barbara Kolm5:53
    Why The European Union Will Fail: Q&A with Austrian Economist Barbara Kolm
    ReasonVids
    947 views
    Thumbnail for I Built The Hardest Track In Zeepkist | Sandals11:58
    I Built The Hardest Track In Zeepkist | Sandals
    invidious
    467 views
    Thumbnail for Doom - E1M9: Military Base (Nightmare! 100% Secrets + Items) | decino8:50
    Doom - E1M9: Military Base (Nightmare! 100% Secrets + Items) | decino
    doom.topic
    848 views
    Thumbnail for Girl beats dude up | Joshua Childers3:58
    Girl beats dude up | Joshua Childers
    invidious
    379 views
    Thumbnail for Cuddle Crackdown! Police Think Snugglers are Actually Hookers: Don't cops have better things to do?2:01
    Cuddle Crackdown! Police Think Snugglers are Actually Hookers: Don't cops have better things to do?
    ReasonVids
    982 views
    Thumbnail for I Made A Game Within 48 HOURS | Ludum Dare 46 | BMo8:50
    I Made A Game Within 48 HOURS | Ludum Dare 46 | BMo
    tech.topic
    689 views
    Thumbnail for Introducing the Government-Backed DMV Automotive Repair Center!1:00
    Introducing the Government-Backed DMV Automotive Repair Center!
    ReasonVids
    979 views
    Thumbnail for Like Mayonnaise0:22
    Like Mayonnaise
    bestofvoatxyz
    690 views
    Thumbnail for Remy: Imagine There's No YouTube (John Lennon Parody)2:30
    Remy: Imagine There's No YouTube (John Lennon Parody)
    ReasonVids
    957 views
    Thumbnail for 🔴Live ข่าวเวิร์คพอยท์ | เหี้ยม! ฆ่ารัดคอพยาบาลสาวหมกห้อง | 22 พ.ค. 68 | ข่าวเวิร์คพอยท์ 233:34:34
    🔴Live ข่าวเวิร์คพอยท์ | เหี้ยม! ฆ่ารัดคอพยาบาลสาวหมกห้อง | 22 พ.ค. 68 | ข่าวเวิร์คพอยท์ 23
    invidious
    154 views
    Thumbnail for Damon Root Discusses Libertarians vs. Conservatives on the Supreme Court and More!9:57
    Damon Root Discusses Libertarians vs. Conservatives on the Supreme Court and More!
    ReasonVids
    994 views
    Thumbnail for Peter Schiff  - The Fed Unspun: The Other Side of the Story1:26:32
    Peter Schiff - The Fed Unspun: The Other Side of the Story
    ReasonVids
    806 views
    Thumbnail for High Trust Society0:53
    High Trust Society
    AOUisgay
    511 views
    Thumbnail for The one white guy keeping Chicago clean5:33
    The one white guy keeping Chicago clean
    bestofupgoat
    169 views
    Thumbnail for 🔴Dalang Dibalik Penembakan 5 WNI di Malaysia Terkuak, Korban Diancam Pidana, BAYAR 1.500 Ringgit | Tribun Sumsel1:00
    🔴Dalang Dibalik Penembakan 5 WNI di Malaysia Terkuak, Korban Diancam Pidana, BAYAR 1.500 Ringgit | Tribun Sumsel
    invidious
    134 views
    Thumbnail for New Pennies are Weird | Chemteacherphil0:30
    New Pennies are Weird | Chemteacherphil
    invidious
    423 views
    Thumbnail for Giving Thanks - #SolutionsWatch39:58
    Giving Thanks - #SolutionsWatch
    corbettreport_uo
    672 views
    Thumbnail for ATF Fights Cigarette Smuggling by Smuggling Cigarettes! Don't Cops Have Better Things to Do?!1:57
    ATF Fights Cigarette Smuggling by Smuggling Cigarettes! Don't Cops Have Better Things to Do?!
    ReasonVids
    952 views
    Thumbnail for อุ๋งอิ๋ง มาแล้ว !!! วัดชัยมงคล ต. พระเพลิง อ. เขาฉกรรจ์ จ. สระแก้ว | สาวน้อยเพชรบ้านแพง1:25:52
    อุ๋งอิ๋ง มาแล้ว !!! วัดชัยมงคล ต. พระเพลิง อ. เขาฉกรรจ์ จ. สระแก้ว | สาวน้อยเพชรบ้านแพง
    invidious
    161 views
    Thumbnail for Boycott Walmart! Starting right now!0:07
    Boycott Walmart! Starting right now!
    bestofvoatxyz
    591 views
    Thumbnail for A skill that EVERYONE should know! | The Bear Essentials0:36
    A skill that EVERYONE should know! | The Bear Essentials
    invidious
    386 views
    Thumbnail for Uber and the Great Taxicab Collapse7:44
    Uber and the Great Taxicab Collapse
    ReasonVids
    1025 views
    Thumbnail for I completed this 99.9% impossible precision race in GTA 5 | GrayStillPlays17:08
    I completed this 99.9% impossible precision race in GTA 5 | GrayStillPlays
    invidious
    500 views
    Thumbnail for War is retarded2:19
    War is retarded
    Moonskaraos
    1624 views
    Thumbnail for Tell Me What You Want | CLS - Topic6:21
    Tell Me What You Want | CLS - Topic
    invidious
    165 views

points

Permalink
Reply
economics
,
national debt
,
deficit
,
paul krugman
,
reason weekend
,
nick gillespie
,
entitlements
TOS  •  Add Keywords  •  Donate  •   Analytics  •   DMCA  •   Puzzle