Author: John Stossel

Last year, Congress agreed to $1.2 trillion in automatic spending cuts, unless politicians find other things to cut. They didn’t, of course. So now, with so-called sequestration looming in January, panic has set in. Even the new “fiscally responsible” Republicans vote against cutting Energy Department handouts to companies like Solyndra and subsidies to sugar producers. […]

Since progressives want government to run health care, let’s look at what government management did to K-12 education. While most every other service in life has gotten better and cheaper, American education remains stagnant. Spending has tripled! Why no improvement? Because K-12 education is a virtual government monopoly — and monopolies don’t improve. In every […]

I’m scared. I fear that even if the Supreme Court overrules most of Obamacare (or did already, by the time you read this), Republicans will join Democrats in restoring “good” parts of the law, like the requirement that insurance companies cover kids up to age 26 and every American with a pre-existing condition. Those parts […]

It’s presidential season, so again pundits are indignant that money: is spent on politics. Spent by corporations! And rich people! Because the Supreme Court allowed that, “2012 will be a miserable year,” says The Washington Post’s E.J. Dionne 2012 may be miserable — but if it is, it won’t be because corporations spend on politics. And […]

Any day now, the U.S. Supreme will rule on whether the Obamacare insurance mandate is constitutional. Seems like a no-brainer to me. How can forcing me to engage in commerce be constitutional? But there’s a deeper question: Why should government be involved in medicine at all? Right before President Obama took office, the media got […]

President Obama would do us all a big favor if he’d ask himself this: “Would I start or expand a business without knowing what regulations or taxes government will impose next year?” If he’d just stop and ask that, he’d have a sense of what’s wrong with the economy. He’d understand why a country that […]

It seems intuitive that a free market would lead to a “race to the bottom.” In a global marketplace, profit-chasing employers will cut costs by paying workers less and less, and shipping jobs to China. It’s a reason that progressives say government must step in. So America now has thousands of rules that outlaw wages […]

Instinctively, we look for people’s motives. We need to know whom we can trust and whom we can’t. We’re especially skeptical of business because we know business wants our money. It took me too long to understand that business’s desire for profit is a good thing. To get our money, businesses — if they can’t […]

When my wife was a liberal, she complained that libertarian reasoning is coldhearted. Since markets produce winners and losers — and many losers did nothing wrong — market competition is cruel. It must seem so. President Obama used the word “fair” in his last State of the Union address nine times. We are imprinted to […]

A child leaving home alone for the first time takes a risk. So does the entrepreneur who opens a new business. I no more want government to prevent us from doing these things than I want it to keep us in padded cells. Everyone has a different tolerance for risk. One person takes out a […]

The human brain is torn between simple intuition and the more complex hard work of figuring out the unintended consequences of any policy. Who doesn’t like thinking about trees and greenery and happy animals? Who doesn’t want to see steps taken to protect those things, all else being equal? But all else is not equal. […]

Instinct tells us to fear poison. If our ancestors were not cautious about what they put in their mouths, they would not have survived long enough to produce us. Unfortunately, a side effect of that cautious impulse is that whenever someone claims that some chemical — or food ingredient, like fat — is a menace, […]

We spend too much time waiting for orders — and money — from Washington. The collapse of the housing bubble gave politicians a license to do what they wanted to do all along: spend. The usual checks on extravagance, weak as they are, were washed away. Budgets? We’ll worry about that later. Inflation? We’ll worry […]

I’m suspicious of superstitions, like astrology or the belief that “green jobs will fix the environment and the economy.” I understand the appeal of such beliefs. People crave simple answers and want to believe that some higher power determines our fates. The most socially destructive superstition of all is the intuitively appealing belief that problems […]

Pssst. Want to buy some Stossels? They’re my own currency with my face on them. Why should you trust them? Because I promise to redeem them for gold. And I’m reliable. I have money in the bank and a job that brings in more than I spend. By contrast, the politicians who back American currency […]

Pssst. Want to buy some Stossels? They’re my own currency with my face on them. Why should you trust them? Because I promise to redeem them for gold. And I’m reliable. I have money in the bank and a job that brings in more than I spend. By contrast, the politicians who back American currency […]

Politicians say they “create jobs.” In fact, only the private sector generates the information needed to create real, productive jobs. Since this current post-recession job recovery is the slowest in 80 years, you’d think that even know-it-all politicians would want to sweep away the labyrinth of government regulations that hinders job creation. Successful job creators […]

President Obama says he want to make society more fair. Advocates of big government believe fairness means taking from rich people and giving to others: poor people; or people who do things politicians approve of, like making “green” energy equipment (Solyndra); or old people (even rich ones) through Social Security and Medicare. The idea that […]

“If you have 10,000 regulations,” Winston Churchill said, “you destroy all respect for law.” He was right. But Churchill never imagined a government that would add 10,000 year after year. That’s what we have in America. We have 160,000 pages of rules from the feds alone. States and localities have probably doubled that. We have […]

Now that Mitt Romney is likely to be the Republican nominee, we can expect new attacks on his “vulture capitalism.” That’s how Rick Perry characterized his private equity work. Newt Gingrich’s supporters ran an ad about Romney’s firm, Bain Capital, that said, “Their greed was only matched by their willingness to do anything to make […]

Unlike Bill Clinton, President Obama admits he inhaled!. “Frequently,” he said. “That was the point.” People laugh when politicians talk about their drug use. The audience laughed during a 2003 CNN Democratic presidential primary debate when John Kerry, John Edwards and Howard Dean admitted smoking weed. Yet those same politicians oversee a cruel system that […]

Want to open a business in America? It isn’t easy. In Midway, Ga., a 14-year-old girl and her 10-year-old sister sold lemonade from their front yard. Two police officers bought some. But the next day, different officers ordered them to close their stand. Their father went to city hall to try to find out why. […]

Imagine this family budget: Last year, you earned $24,700. But you spent $37,900, incurring $13,300 in debt, and you were already $153,500 in debt. So you say, “I promise I’ll spend $300 less this year!” Anyone can see that your cutback is pathetic and that you need to spend: much: less. Yet if you add eight zeroes, […]

President Obama said in his State of the Union speech, “We’ve already agreed to more than $2 trillion in cuts and savings.” That was reassuring. The new budget he released this week promises $4 trillion in “deficit reduction” — about half in tax increases and half in spending cuts. But like most politicians, Obama misleads. […]

In the Declaration of Independence, Thomas Jefferson called the pursuit of happiness an unalienable right. This was a radical idea. For most of history, most people didn’t think much about pursuing happiness. They were too busy just trying to survive. Then came the liberal revolution based on the idea of individual freedom. Only then did […]

With an election approaching and at least some Americans upset about irresponsible spending, the president has finally expressed a political interest in cutting something. He says the Pentagon will spend “only” $525 billion next year. That’s slightly less than the current $531 billion. A cut is good, but this will barely dent the deficit. We […]

Has Barack Obama learned nothing in three years? Last night, during his State of the Union address, he promised “a blueprint for an economy.” But economies are crushed by blueprints. An economy is really nothing more than people participating in an unfathomably complex spontaneous network of exchanges aimed at improving their material circumstances. It can’t […]

Simple answers are so satisfying: Green jobs will fix the economy. Stimulus will create jobs. Charity helps people more than commerce. Everyone should vote. Well, all those instinctive solutions are wrong. As Friedrich Hayek pointed out in “The Fatal Conceit,” it’s a problem that in our complex, extended economy, we rely on instincts developed during […]

It’s election season, and so once again people look for heroes. Is Ron Paul one? Maybe. He’s fought a long, lonely battle to limit the power of government. As government grows, I yearn for champions of freedom who fight back. Rep. Paul has done that. But it’s a mistake to look for heroes in politics. […]

An idea walks into a bar. She meets another idea. They get together, and nine months later (or maybe it’s nine minutes or seconds? It’s not clear how it works with ideas), a new idea is born. A baby idea with the best traits of both parents. When this happens a lot, everyone gets smarter […]