Michael Maharrey | The Libertarian Institute

Trump Administration Runs Obamaesque Budget Deficit Over $1 Trillion in 2019

by Michael Maharrey | Jan 15, 2020 | Economics, Featured Articles

The Trump administration ran an Obamaesque budget deficit of over $1 trillion in the 2019 calendar year. It was the first budget deficit over $1 trillion in any calendar year since 2012. The budget shortfall from January through December totaled $1.02 trillion, according to the latest report issued by the Treasury Department. That was a 17.1 percent increase over the 2018 deficit, which was a 28.2 percent increase over 2017. The budget deficit for fiscal 2019 (October 2018-September 2019) came in just under $1 trillion at $984 billion. That represented 4.7 percent of GDP, the highest...

Michigan Bill Would Ban Unconstitutional National Guard Deployments

by Michael Maharrey | Jan 13, 2020 | Blog

LANSING, Mich. (Jan. 11, 2019) – A bill introduced in the Michigan House would prohibit unconstitutional foreign combat deployments of the state’s national guard troops, an important step towards restoring the Founders’ framework for state-federal balance on the Guard. Rep. Steven Johnson (R-Wayland), along with a bipartisan coalition of two Republicans and two Democrats, introduced House Bill 5320 (HB5320) on Jan. 9. Johnson joined the U.S. Air Force in 2009. He served for four years, leading a team working on nuclear missile electronics in Montana. He was recently named “most conservative...

Is Your State Destroying Your Money?

by Michael Maharrey | Dec 31, 2019 | Economics, Featured Articles, Libertarianism

Is your state destroying your money? Most states are, but several have taken action in the last few years to support sound money. You can find out how your state ranks in the 2019 Sound Money Index compiled and published by the Sound Money Defense League and Money Metals Exchange. The Sound Money Index is the first of its kind, ranking all 50 states using 12 different criteria to determine which states maintain the most pro- and anti-sound money policies in the country. Wyoming, Texas, and Utah emerged as the best states on sound money in the nation. with South Dakota, Alaska, Arizona, New...

A Trend Worth Considering – The Price of Gold Since 1971

by Michael Maharrey | Dec 23, 2019 | Economics, Featured Articles, Libertarianism

As we approach the end of 2019, gold is on track for a healthy yearly gain. To date, the yellow metal is up over 16% on the year. It’s always interesting talking about gains in the price of gold because when you get down to it, it all depends on when you got into the market. If you bought an ounce of gold on Jan. 1 of this year and sold it this morning, you’d have pocketed around $208 (less any taxes and fees). But if you bought your gold at the peak price this year and sold it this morning, you’d be out about $68. So, when we say gold is up or down, you always have to ask a second question:...

While You Were Watching the Impeachment Circus

by Michael Maharrey | Dec 21, 2019 | Economics, Featured Articles, Foreign Policy

Well, they did it! The House impeachment hearings were little more than political theater — a partisan fistfight with the majority party coming out the “winner.” In the process, it created the illusion of deep division and disagreement. Devoted Democrats and Republicans are both convinced that their team is fighting for their interests against a determined foe on the other side of the aisle. But while everybody obsessed over the political theater playing out on CNN, Fox News and MSNBC, they completely missed the sideshow that could actually impact their lives. Even as Democrats and...

How About a Little Gun Violence to End Gun Violence?

by Michael Maharrey | Dec 17, 2019 | Blog

A Virginia Congress-Critter suggested that the governor could call up the National Guard to enforce gun control in counties where local officials have expressed reticence to carry out gun confiscation. This should lay to rest once and for all the silly notion that gun control is about ending gun violence. In fact, supporters of gun control are themselves dangerous and violent. They are willing to kill people to impose their will. Rep. Donald McEachin said that counties that refuse to enforce any gun control measure passed by the state legislature should lose state funding. “And ultimately,...

Oklahoma Bill Would Block Unconstitutional National Guard Deployments

by Michael Maharrey | Dec 10, 2019 | Featured Articles, Foreign Policy, Politics

OKLAHOMA CITY, Okla. (Dec. 10, 2019) – A bill prefiled in the Oklahoma Senate would prohibit unconstitutional foreign deployments of the state’s National Guard troops. Passage into law would effectively restore the founders’ framework for a state-federal balance regarding the state militia. Sen. Nathan Dahm (R-Broken Arrow) prefiled Senate Bill 1101 (SB1101) last week. The legislation would require a congressional declaration of war before Oklahoma National Guard units could be deployed into combat in a foreign country. The legislation reads in part: “The Oklahoma National Guard and any...

Fed Paper Admits Federal Reserve Policies Can Lead to “Economic Ruin”

by Michael Maharrey | Dec 6, 2019 | Economics, Featured Articles, Libertarianism

The national debt crossed the $23 trillion mark in November. When you include unfunded liabilities in the equation, the real debt number comes in at over $126 trillion. But even when confronted with this staggering number, most people just shrug. America has been running up debt for decades. Nothing bad has happened yet. Right? Well, it’s true. The massive national debt isn’t a problem. Until it is. Even the Federal Reserve admits runaway deficit spending can become a problem. A paper by Scott A. Wolla and Kaitlyn Frerking for the Federal Reserve Bank of St. Louis did just that. Ironically,...