Reason.tv - Topics

Nick Gillespie on How Obamacare Will Drive up Costs and Debt on RTAmerica

Fri, 29 Jun 2012 00:00:00 EDT

Reason.tv editor in chief Nick Gillespie appeared on RTAmerica to discuss how the Supreme Court ruling on Obamacare is a win for Obama yet will be more expensive than previously projected and won't make Americans healthier. Air Date: June 28, 2012.

Almost 15 minutes.

Scroll down for HD, iPod and audio versions of this video and subscribe to Reason.tv's Youtube channel to receive automatic notification when new material goes live.

Sharon Presley on Libertarian Feminism

Sat, 26 May 2012 00:00:00 EDT

"Many libertarian men are fairly ignorant about women's issues. Some of them are outright hostile to feminism because they've never bothered to find out what it is," says Sharon Presley, Ph.D.

Presley is a founding figure in the libertarian movement and author of the book, Standing Up to Experts and Authorities. She sat down with Reason.com's managing editor, Tim Cavanaugh to discuss libertarian feminism and what libertarianism looks like in 2012.

Shot by Tracy Oppenheimer and Paul Detrick. Edited by Detrick.

Scroll down for downloadable versions and subscribe to Reason.tv's YouTube channel to receive automatic notification when new material goes live.

John Stossel on the Successes of Freedom in Education

Sun, 01 Apr 2012 01:00:00 EDT

"It shows how horrible things were, that it took this long for this eminently sensible thing to happen" said Fox Business host John Stossel of school choice in education.

Stossel made a speech at Reason Weekend 2012, Reason Foundation's annual donor event, about the successes of freedom in education. He talked about trying to update his 20/20 special, "Stupid in America," and not being able to do it, visiting Harlem schools full of kids ready to learn and why libertarians oppose a single payer system in health-care but cheer it in education.

About 3:00 minutes. Filmed by Joshua Swain and Anthony Fisher. Edited by Paul Detrick.

Scroll down for downloadable versions and subscribe to Reason.tv's YouTube channel to receive automatic notifications when new material goes live.

Crackdowns on Consensual Sex, Veggies, and more! Nanny of the Year (2011)

Tue, 27 Dec 2011 09:00:00 EST

They touch our lives in so many ways, and Reason.tv kicks off awards season by acknowledging those who have devoted their lives to minding other people's business.

Live (to tape) from the fourth floor of the Sepulveda Center in Los Angeles, it's the third annual 2011 Nanny of the Year Awards!

These United States have produced many worthy nominees in 2011. Who could forget the city planner who threatened a woman with 93 days behind bars for growing vegetables or the state senator who did his best to outlaw crossing the street while listening to an iPod (shortly before pleading guilty to federal corruption charges).

But this year the golden Nanny goes to the Wolverine state pol who's bent on making most any kind of teacher-student sex--not just a fireable offense, but a felony, even if the student is older than age 18 or even if teacher and student are middle-aged. (And, in an apparent attempt to secure nanny gold, our winner is also fighting to force school kids to recite the pledge in front of genuine made-in-America flags.)

Presenting Reason.tv's 2011 Nanny of the Year: Michigan State Senator Roger Kahn!

Approximately 2.45 minutes.

"Nanny of the Year" is written and produced by Ted Balaker, who also hosts. Shot by Paul Detrick and Zach Weissmueller. Animation by Austin Bragg.

Go here to watch previous Nanny of the Month (and Year) episodes.

Scroll down for downloadable versions of this and all our videos, and subscribe to Reason.tv's YouTube channel to receive automatic notification when new content is posted.

Matt Welch Talks Treament of OWS Protesters and Grades the TSA on Freedom Watch

Wed, 23 Nov 2011 00:00:00 EST

Reason Magazine Editor in Chief Matt Welch appeared on Freedom Watch With Judge Napolitano to discuss the treatment of what guest host Elizabeth MacDonald calls, "OWS pests", the economics of security surrounding the TSA and how the super committee's failure may jeopardize payroll tax cuts. Air Date: November 22, 2011.

Approximately 20 minutes.

Scroll down for downloadable versions and subscribe to Reason.tv's YouTube channel to receive automatic notification when new material goes live.

Judge Andrew Napolitano: Why Taxation is Theft, Abortion is Murder, & It's Dangerous to Be Right When the Gov't Is Wrong

Tue, 22 Nov 2011 11:00:00 EST

"I'll say this plainly, I've said it before - Taxation is theft. It presumes the government has a higher claim on our property than we do," says Judge Andrew Napolitano, the host of Fox Business' Freedom Watch and the author of the new book, It Is Dangerous to Be Right When the Government Is Wrong: The Case for Personal Freedom.

Reason's Nick Gillespie sat down with the outspoken libertarian commentator to discuss topics ranging from abortion (the judge is fiercely pro-life) to Occupy Wall Street (he welcomes the protest against corporatism) to Rep. Ron Paul ("the Barry Goldwater" of our moment) to the role of religion in the quest for freedom.

About 25 minutes. Camera by Jim Epstein and Joshua Swain; edited by Swain.

Scroll down for downloadable versions and subscribe to Reason.tv's YouTube Channel to receive automatic notifications when new material goes live.

For previous Reason interviews with Judge Napolitano and to read his Reason archive, go here.

Veronique de Rugy: The Facts About Spending Cuts, the Debt, and the GDP

Fri, 29 Jul 2011 00:00:00 EDT

Editor's Note: Reason columnist and Mercatus Center economist Veronique de Rugy appears weekly on Bloomberg TV to separate economic fact from economic myth.

Raising the debt limit might put off a downgrade disaster in August, but that still isn’t enough—as Standard & Poor’s recent warning made clear. Perhaps the most important shot not heard around the world was S&P’s other admonition: Namely, that the U.S. bond rating will be downgraded in three months, if not sooner, unless we do something about government spending. Beyond raising the debt limit, S&P laid out clear criteria for avoiding a downgrade: 1) reduce the debt by about $4 trillion; 2) agree to a credible plan within three months; and 3) guarantee that this newfound fiscal discipline will actually stick.

If S&P isn’t bluffing, then lawmakers should get serious about reducing the debt-to-GDP ratio, and they should do it quickly. But how do we achieve such a task?

Myth 1: You cannot reduce the deficit to an appropriate level without also raising taxes.

Fact 1: Spending cuts are the most effective way to reduce the debt-to-GDP ratio.

We are not the first nation to struggle with a dangerous debt-to-GDP ratio, and thankfully, the academic world has already produced great insights into what can be done to reduce this ratio without hurting the economy.

Take the work of Harvard’s Alberto Alesina and Silvia Ardagna. They examined 107 efforts to reduce the debt in 21 OECD nations between 1970–2007. Their findings suggest that tax cuts are more expansionary than spending increases in the cases of a fiscal stimulus. Also, they found that spending cuts are a more effective way to reduce the debt-to-GDP ratio:

For fiscal adjustments we show that spending cuts are much more effective than tax increases in stabilizing the debt and avoiding economic downturns. In fact, we uncover several episodes in which spending cuts adopted to reduce deficits have been associated with economic expansions rather than recessions. We also investigate which components of taxes and spending affect the economy more in these large episodes and we try to uncover channels running through private consumption and/or investment.

As you can see in this chart, in cases of successful fiscal adjustments—defined by the cumulative reduction in debt-to-GDP ratio three years after fiscal adjustment greater than 4.5 percentage points—spending as a share of GDP fell by about 2 percentage points while revenue also fell by half a percentage point (left bars). On the other hand, unsuccessful fiscal adjustment packages—cumulative increases in debt-to-GDP ratio—were made of smaller spending reductions (only 0.8 percentage-point reduction) and large revenue increases (right bars).

The IMF found similar results and reports that fiscal adjustment on the requisite scale of what we need today is actually not unprecedented:

During the past three decades, there were 14 episodes in advanced economies and 26 in emerging economies when individual countries adjusted their structural primary balance by more than 7 percentage points of GDP. Several economies were also able to sustain large primary surpluses for five or more years afterwards, though the record is more mixed in this regard.

For those who are not ideologically inclined toward austerity measures, it is key to remember that this research is consistent with the work of former Obama Council of Economic Advisers chairman Christina Romer and her economist husband, David Romer, which shows that increasing taxes by 1 percent of GDP for deficit-reduction purposes leads to a 3 percent reduction in GDP. In fact, Alesina and Ardagna discuss the work of Romer and Romer starting on page five of their paper.

Myth 2: Lawmakers facing economic catastrophe forget about politics and adopt measures that address genuine fiscal issues.

Fact 2: Politicians rarely put politics aside. Historically, four out of five fiscal adjustments were primarily comprised of tax increases—and were unsuccessful.

Following and building on Alesina and Ardagna’s work, a new paper by Andrew Biggs, Kevin Hassett, and Matthew Jensen of the American Enterprise Institute studies fiscal adjustments covering over 100 instances in which countries took steps to address their budget gaps. Their results are consistent with those of the Harvard economists; expenditure cuts outweigh revenue increases in successful consolidations. Moreover, their work shows that even in a time of crisis (or especially in a time of crisis), lawmakers tend to adopt policies for the sake of politics. Countries in fiscal trouble generally got there through years of catering to interest groups and pro-spending constituencies (on both sides of the political aisle), and their fiscal adjustments tend to make too many of the same mistakes.

As a result, failed fiscal consolidations are the rule rather than the exception. Indeed, 80 percent of the fiscal adjustments Biggs, Hassett, and Jensen studied were failures. The United States cannot afford to follow this pattern.

Myth 3: We have had higher debt-to-GDP ratios before so we shouldn’t worry now.

Fact 3: We should worry. The debt-to-GDP ratio actually underestimates the size of the government’s real liabilities.

As government debt and deficits have swollen, we often look to the past for guidance. From that point of view, history appears to be reassuring, since several advanced countries have had debt-to-GDP ratios much higher than the one we have now. The United States after World War II had a public debt/GDP ratio of roughly 110 percent, while Britain’s was 250 percent. In fact, the UK’s national debt has averaged almost 100 percent of GDP since its creation in 1693. France's public debt was about 280 percent of GDP at the end of World War II. And yet neither of these countries defaulted. So why should we worry?

Two main reasons: First, while our debt is big now, it’s only going to get bigger in the coming years. This year, the debt held by the public is $9.7 trillion, which is roughly 69 percent of GDP. According to the Congressional Budget Office, it will reach 200 percent in 2037--if the economy doesn’t collapse first (which it likely will). These projections aren’t surprising considering that the president’s budget doubles the debt held by the public from $9 trillion today to $18 trillion in 2021.

Second, the debt-to-GDP ratio actually underestimates the scale of our debt problem. Here is why:

1. Intragovernmental debt. This $4.6 trillion of debt is money that the federal government owes to its various trust funds. In other words, it’s a liability to the government but an asset to the trust funds, so in accounting term it’s zeroed out. However, over time the programs will redeem the IOUs as they need the money to fund benefits. As that happens, the intragovernmental debt decreases but debt held by the public increases. Eventually, this $4.6 trillion will be converted into public debt.

2. Unaccounted liabilities. There exists a broad range of liabilities that are debt, yet are not captured in the debt-to-GDP ratio. To take one example, the Financial Statement of the United States values the government’s civil-service pension liabilities (that is, the contractual claims on government accumulated to date by civil servants) at $5.7 trillion. That amount is not captured by the debt-to-GDP ratio. A share of this $5.7 trillion will be paid for by IOUs included in the intragovernmental debt, which we know will be converted into public debt. In addition, the unfunded share of this liability will have to be paid for with more debt, which isn’t accounted for in the debt/GDP metric. The Financial Statement of the United States shows another $1.5 trillion of such liabilities, including payments due to government-sponsored enterprises.

3. Unfunded liabilities. There is a balance of $39 trillion in unfunded liabilities over 75 years for programs such as Social Security and Medicare.

While we can’t add all these numbers up because it would be the equivalent of comparing oranges to apples (some of these numbers represent the net present value of beneficiaries’ future claims on the government), considering them in context still helps to illustrate why the debt-to-GDP ratio underestimates how much present and future debt has been accumulated over the years. Hopefully, this also helps illustrate why the current debt-ceiling debate shouldn’t just focus on Treasury’s ability to pay our bills today, but must focus on our overall debt problem.

Contributing Editor Veronique de Rugy is a senior research fellow at the Mercatus Center at George Mason University.

Katherine Mangu-Ward Discusses the FED's Secret Lending Program with Judge Napolitano

Fri, 08 Jul 2011 00:00:00 EDT

Reason Senior Editor Katherine Mangu-Ward appeared on Freedom Watch to discuss how the Federal Reserve gave billions of dollars to Goldman Sachs, Lehman Brothers, and others. Airdate: July 7, 2011.

About 8 minutes.

Scroll down for downloadable versions. Subscribe to Reason.tv's YouTube channel to receive automatic notification when new material goes live.

Libertarianism from A to Z With Jeffrey Miron

Mon, 03 May 2010 07:00:00 EDT

Harvard economist Jeffrey Miron is probably best known for his influential 2005 study The Budgetary Implications of Marijuana Prohibition, which laid out in plain detail the high costs and low benefits of keeping pot illegal. During the financial crisis, Miron was one of the most eloquent and insistent voices opposing government bailouts at all levels.

Now Miron has produced Libertarianism From A to Z, an encyclopedic look at everything from abortion to zoos from an angle consistent with classical liberal thought and insights. Miron's book, which covers tough issues such as civil rights legislation, immigration policy, and much more, is simultaneously provocative and engaging.

Reason.tv's Nick Gillespie spoke with Miron in Reason's DC HQ; shot by Merdith Bragg and Dan Hayes; edited by Hayes.

Approximately 10 minutes. Scroll down for downloadable versions. Subscribe to Reason.tv's YouTube channel for automatic notification when new material goes live.

21: Is It Time to Lower the Drinking Age?

Wed, 07 Apr 2010 07:00:00 EDT

The drinking age in the US has been 21 for more than 20 years.

Today, we all take the drinking age for granted, but should we? In fact, the US is one of only four countries in the world with a drinking age as high as 21—the other three are Indonesia, Mongolia and Palau.

Is the policy working to reduce health and safety issues related to youthful alchohol abuse? Is enforcing the drinking age the best use of scarce public resources? What are the unintended consequences of alcohol prohibition for 18-20 year olds?

Organizations such as Mother Against Drunk Driving (MADD) argue that the drinking age is an effective policy and that the answer to ongoing alcohol related problems for 18-20 year olds is more education and better enforcement.

John McCardell, president of Choose Responsibility, and 135 university presidents and chancellors across the country believe it's time to take a fresh look at the drinking age. The former president of Middlebury College and the new head of Sewanee/University of the South, McCardell says our current system encourages unsupervised binge drinking.

Reason.tv went to the University of Wisconsin-Stout in Menomonie, Wisconsin to get a first-hand look at the war on underage drinking.

Produced and hosted by Paul Feine; shot and edited by Alex Manning. Approximately 10 minutes long. Scroll down for downloadable iPod, HD and audio versions of this and all our videos. Subscribe to Reason.tv's YouTube page and receive automatic notification when new material goes live.

Reason Saves Cleveland With Drew Carey: Full episode guide and resources

Sun, 14 Mar 2010 10:00:00 EDT

Click above to watch Drew introduce the series that just might save his hometown. And yours.

Reason Saves Cleveland With Drew Carey is an original Reason.tv documentary series that will air during the week of March 15-19.

Featuring sitcom legend, Price Is Right host, and proud Clevelander Drew Carey, each 10-minute episode investigates and analyzes the problems that turned Cleveland from the nation's sixth-largest city in 1950 into today's "Mistake On The Lake."

Like all too many American cities, Cleveland seems locked into a death spiral, shedding people, jobs, and dreams like nobody's business. When it comes to education, business climate, redevelopment, and more, Clevelanders have come to expect the worse. Is a renaissance possible? Of course it is, but only if the city's leaders and residents are willing to learn from other cities such as Houston, Chicago, Oakland, and Indianapolis. And only if they're willing to try new approaches to old problems.

Reason.tv's Nick Gillespie narrates and talks with educators, elected officials, businesspeople, policy experts, and residents from all walks of life. Stay tuned for a documentary series that maps a route back to prosperity and growth not just for Cleveland but for other once-great American cities.

Reason Saves Cleveland with Drew Carey is written and produced by Paul Feine; camera and editing by Roger Richards and Alex Manning; music by the Cleveland band Cats on Holiday.

Full release schedule is below. Click on the images to start each episode. And go here to watch the series as a single, 50-minute video. All segments are available as downloadable iPod, HD, and audio files.

Episode 1: The Decline of a Once-Great City (March 15)

Sixty years ago, Cleveland was a booming city full of promise, opportunity, and people. Today, the city’s population is less half of what it was in its prime and it ranks as one of the poorest big cities in the United States. Hometown hero Drew Carey reflects on how the city became “the mistake on the lake” and wonders about the city’s future. Is a Cleveland renaissance possible or is the city doomed to long, slow death?

Episode 2: Fix the Schools (March 15)

Cleveland’s public schools are failing to prepare students for their future and as a result, all parents who can afford to have been fleeing to the suburbs for decades. Yet some urban schools, like Think College Now in Oakland, California are finding out that a combination of administrative autonomy and accountability can lead to amazing results. Within Cleveland's own boundaries, charter schools are booming and delivering quality education at a fraction of the cost of traditional public schools. Does Cleveland have what it takes to fundamentally reform its K-12 education system and become a leader in 21st-century education?

Episode 3: Privatize It (March 16)

Should cities be in the business of running businesses ranging from convention centers to farmers markets? Selling off golf courses, contracting out parking concessions, and all manner of public-private partnerships are generating billions of dollars in revenue and dramatically improving city services in places such as Chicago and Indianapolis. Will Cleveland's elected officials learn the right lessons in time?

Episode 4: Take Care of Business (March 17)

After World War II, Cleveland was booming, thanks to its leadership role in heavy industry and a business-friendly climate. Today, the city’s high taxes and onerous regulatory demands make it nearly impossible for new businesses to set up shop while choking the life out of existing companies. While relatively laissez-faire cities such as Houston are growing even during the current recession, Cleveland remains stuck in a rut. How can city officials make the city a more welcoming place for entrepreneurs to thrive?

Episode 5: Encourage Bottom-Up Redevelopment (March 18)

Cleveland has spent billions on big-ticket urban redevelopment efforts including heavily subsidized sports stadiums and convention centers that have utterly failed to revitalize the city’s economy. Should the city be pouring even more money into and pinning yet higher hopes on long-odds mega-projects? Or should they realize that bottom-up projects driven by the actual residents and private-sector investors are the best was to build a vibrant city for the long haul?

Episode 6: Bring Back the People (March 19)

No city can exist without people, and Cleveland has lost more than half its population since the 1950s. Yet the city still boasts amazingly affordable neighborhoods, down-to-earth charm, arich history, a stunning and varied landscape, and diverse ethnic and cultural scenes. How can Cleveland can become a destination where people flock to pursue their personal versions of the American Dream?

Click below to watch Drew Carey talk about his hopes and dreams for Cleveland—and why he wishes he could film The Price Is Right there.

On May 27, 2010, Drew Carey and Reason's Nick Gillespie talked with the Cleveland City Council for about 2.5 hours regarding the issues raised by Reason Saves Cleveland with Drew Carey. What follows is a 10-minute video of memorable moments from that meeting. Go here for related materials and downloadable versions of the video. And go here to read Gillespie's cover essay in the June 2010 issue of Reason on "How to Save Cleveland." For policy ideas, go here.

For a transcript of "The Confrontation" from the October 2010 issue of Reason, go here.

Gov. Gary Johnson on His Economic Vision For "Our America"

Fri, 05 Mar 2010 13:00:00 EST

On Tuesday, February 9, in the midst of one of the biggest snowstorms in recent Washington, D.C. memory, former New Mexico Gov. Gary Johnson and Harvard economist (and Reason contributor) Jeff Miron talked about economic revitalitization and Johnson's views on immigration, war, and other issues at the heart of the new organization Our America.

Reason.tv's Nick Gillespie intros the speakers and moderates audience Q&A. Shot by Dan Hayes and Meredith Bragg; edited by Bragg. Approximately 35 minutes. Scroll down for downloadable iPod, HD, and audio versions.

For more Reason.tv with Johnson, go here.

To watch Miron make the "case for doing nothing" (that is, actually letting markets work) during the 2008 financial crisis, go here.

3 Reasons Not To Sweat The Citizens United Ruling

Wed, 03 Feb 2010 07:00:00 EST

No recent Supreme Court ruling have evoked more liberal fury than Citizens United v. Federal Election Commission, a campaign-finance case involving government censorship of a political documentary called Hillary: The Movie. The Federal Election Commission prevented the anti-Hillary Clinton film from being shown on television just before the 2008 Democratic primaries, a decision that was upheld by lower courts. Siding with The First Amendment, the Court struck down laws regulating independent political advertising by for-profit and non-profit corporations before an election even as they reaffirmed rules about disclosure and disclosures for ads and against direct corporate giving to candidates.

Critics fear that corporations will now overwhelm the political marketplace with commercials and advertisements that will program citizens to vote for whatever agenda "the corprations" want at a given moment.

MSNBC's Keith Olbermann railed against the decision, calling it "a Supreme Court-sanctioned murder of what little democracy is left in this democracy" and comparing it to the notorious Dred Scott decision, which ruled that blacks had no rights under the Constitution. His fellow corporate media host at MSNBC, Rachel Maddow, exclaimed, "If you are a regular person who has ever made a campaign donation before, forget about ever having to do that again. What's the point?"

Cyberlaw theorist Lawrence Lessig has called for a consitutional amendment to roll back the Citizens United ruling and President Barack Obama called out the Supreme Court during his 2010 State of the Union address, proclaiming to a standing ovation:

The Supreme Court reversed a century of law that I believe will open the floodgates for special interests, including foreign corporations, to spend without limit in our elections.

Is there any truth to some hyperbolic, doomsday scenarios? In a word, no. The Citizens United ruling increases freedom of political speech, not simply for powerful, politically connected corporations like Citigroup, AIG, and the companies that run The New York Times and other media outlets, but for small-pocketed nonprofits such as Citizens United too. If you want to get bent out of shape about something, direct your ire at a massive and constantly growing government that has its hands in virtually every aspect of economic and social life in America.

"3 Reasons Not to Sweat The Citizens United Ruling" was written and produced by Meredith Bragg and Nick Gillespie, who also hosts.

For Reason.com's archive on the Citizens United case, go here.

Approximately 3.30 minutes. Scroll down for downloadable versions.

Subscribe to Reason.tv's YouTube channel and received automatic notifications when new material goes online.

Virginia is for (Liquor) Lovers!

Tue, 26 Jan 2010 12:00:00 EST

Bob McDonnell is a self-professed pinot grigio and white zinfandel drinker.

He's also the new Republican governor of Virginia and is taking aim at the commonwealth's oppressive and inefficient state-owned liquor monopoly. More than a dozen states still completely control the sales and distribution of all distilled spirits.

The result? Higher payrolls for state governments (state-workers are public-sector employees after all) and rotten selection and service for customers (state-sanctioned monopolies tend to diminish the shopping experience).

Despite a reputation as a social conservative, McDonnell thinks that state-run liquor stores are a bad idea from both pragmatic and philosophical perspectives. Given budget crises, says McDonnell, "we can't just do things the same old way.... Certainly there's nothing I gleaned from the [Virginia] constitution that would have me think it's better or required to have the government controlling distilled spirits."

States such as West Virginia and Iowa have gained millions of dollars in new tax and license revenues by privatizing liquor sales, says Reason Foundation policy analyst Len Gilroy. And they've also cut government expenditures by millions of dollars as well.

Will Virginia join them? McDonnell invited Reason.tv to come back in a year and check in with him. Sure thing, Mr. Governor. We'll bring the questions. You can bring the white zinfandel.

Approximately 4.30 minutes. Written and produced by Meredith Bragg and Nick Gillespie, who also hosts. Additional footage: Dan Hayes.

Scroll down for downloadable versions.

Subscribe to Reason.tv's YouTube channel and get immediate notification whenever a new video goes live.

For more Reason.tv videos on prohibition and alchohol policy, go here.

Turning Japanese

Tue, 23 Jun 2009 09:00:00 EDT

It wasn't that long ago that everyone in America believed that Japan would soon overtake the United States as the dominant economic force on the planet. When the Japanese stock market rallied to historic heights in late 1989 and Japanese investors even bought Rockefeller Center in New York, it all seemed like a done deal.

But then...the Nikkei Index tanked, the nation's economy collapsed, the government responded with an ever-changing mix of tax hike and tax cuts, stimulus spending on infrastructure, massive bailouts of businesses, and more. None of it worked and Japan entered what's been called its "Lost Decade," a seemingly endless period of economic stagnation.

What are the lessons for the U.S. from Japan's experience? Reason Foundation policy analyst Anthony Randazzo is the co-author of the recent study "Avoiding an American Lost Decade: Lessons from Japan's bubble and recession" and a July 2009 cover story for Reason magazine, "Turning Japanese: Japan's post-bubble policies produced a 'lost decade.' So why is President Obama emulating them?"

As Randazzo explains, both the causes of and official responses to Japan's bubble and economic slump eerily anticipate exactly what the U.S. government is doing. Worse still, the Obama administration and Congress seem dead-set against the sorts of policies—across-the-board taxes on personal and business income, reductions in long-term and unsustainable government debt, and allowing damaged firms to go bankrupt—that would help revivify the American economy.

Is America on the verge of its own lost decade? Sadly, the government seems to be doing everything it can to make that happen.

Approximately 3.30 minutes long. Produced by Dan Hayes and Nick Gillespie; graphics by Meredith Bragg.

Scroll down for embed code and downloadable iPod, HD, and audio versions.

Michael C. Moynihan Talks Obama on the Glenn Beck Show

Thu, 21 May 2009 11:51:00 EDT

Reason senior editor Michael C. Moynihan sits down with Judge Andrew Napolitano (subbing for Glenn Beck) on the Fox News Channel to discuss the latest in bailout mania, the ever-expanding size of government, and the future of American health care.

Real Man of Genius: Joe Biden

Tue, 24 Feb 2009 00:00:00 EST

Approximately 1.30 minutes.

Reason on Joe Biden here.

Searching for Bill Clinton

Mon, 24 Nov 2008 12:00:00 EST

Bill Clinton is the self-proclaimed Comeback Kid of American politics. Indeed, every time it seems that he is finally out of public view, he comes back with a vengeance, the electoral equivalent of a herpes infection that can be managed but never quite fully eradicated.

With Sen. Hillary Clinton (D-N.Y.) rumored to be named as President-elect Barack Obama's secretary of state, how should we evaluate the legacy on Bill Clinton? The latest book-length treatment of the is John Gartner's In Search of Bill Clinton, a heavily researched psychological profile of the former president that, among other revelations, names Clinton's likely biological father. (Go here to read a review of the book by reason's Nick Gillespie that originally ran in The New York Post.)

Unabashedly positive toward Clinton, Gartner, a practicing psychologist and author of the best-selling The Hypomanic Edge, nevertheless reveals what makes Bill Clinton tick—and explode with a disquieting regularity. Given the current situation, will Bill Clinton be able to stand a situation in which he is near the White House once again but playing a supporting role at best?

Earlier this fall, Gartner sat down to talk with reason.tv. Click above to watch a seven-minute interview that discusses Clinton's relationship with Monica Lewinsky, his foreign and domestic policies, and more.

And click below to watch Gartner, along with Alternatives to Marriage's Nicky Grist, mix it up with reason's Michael C. Moynihan and Nick Gillespie on the reason.tv Talk Show.

Ron Paul, Whoopi and Abortion

mmoynihan@reason.com (Michael Moynihan) — Tue, 04 Dec 2007 15:23:00 EST

Ron Paul visits the ladies of The View and tussles (ever so patiently) with Constitutional scholar Whoopi Goldberg on the intricacies of Roe v. Wade.