The Federal Budget and a Regulation of the Day
The Federal Budget
A recent Washington Post article took a close look at how pension and social program obligations exhausted the federal budget in 2011.
"Massive budget deficits and mushrooming pension, Social Security, and Medicare obligations increased the federal government’s long-term obligations by $4.2 trillion in 2011 — more than three times the $1.3 trillion official figure for the federal budget deficit."
Several states are legalizing Internet gambling within their borders.
"While state action is appropriate to increase the scope of Americans’ economic freedoms, the federal government needs to end their national prohibition on Internet betting and the regulatory uncertainty that currently plagues the industry."
Regulation of the Day
Beaver Borough, Pennsylvania recently passed strict regulation on sledding in the town.
"Out-of-town children are not allowed to go sledding in Beaver Borough, on pain of a $25 fine. If out-of-towners are in Beaver Borough to visit friends or relatives, they’ll need to find something else to do for a family outing."