All I Want for Christmas Is for Congress To Exercise Fiscal Restraint

Published

1 year ago

December 22, 2023

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As the festive season approaches, with its twinkling lights and merry carols, the item topping my Christmas wish list is fiscal responsibility from Congress and the administration. If this sounds like an economist conflating policy with goodwill, remember this: In a world where holiday wishes usually lean toward “stuff”gadgets, games, and glittering jewelsmy wish would bring long-term prosperity, stability, and cheer far beyond the fleeting joy of unwrapping presents.

Here are two small steps Congress could take to jumpstart the fiscal stability process that are uncontroversial and bipartisan (or at least they should be).

However, before I begin, I’ll remind you why we shouldn’t let Congress fool us into believing fiscal responsibility is impossible. In the last four years, public debt has increased by 53 percent thanks to the massive expansion during the COVID-19 emergency. Huge gains are possible simply by eliminating temporary programs that were created.

As much as people enjoy the illusion of free money handed out by Uncle Sam, it’s been unmasked by inflation. Would it be terrible to go back to where we were before the pandemic, when the economy and wages were growing, and most Americans liked that direction?

The first step involves curtailing emergency spending loopholes. Emergency spending is intended for unforeseen, urgent expenditures arising from natural disasters, economic crises, or other unexpected serious situations. It’s typically exempt from ordinary budgetary constraints and processes. The idea is for governments to respond quickly without the delay of standard budgetary procedures.

Unfortunately, the emergency spending label has long been abused. Regular, predictable expenditures are often labelled as “emergencies” to bypass normal budgetary controls and scrutiny. This ability to spend without much oversight is awfully convenient for politicians and, as a result, makes emergency spending a significant driver of government debt. In a new study of the issue, Romina Bocca and Dominik Lett of the Cato Institute write: “Congress has designated $12 trillion in inflation-adjusted emergency and related cap-exempt spending over the last three decades. That’s 43 percent of the current public debt without including interest costs.”

There’s no way this much spending is based on unforeseen emergencies. Congress can give our children, who (as always) will probably foot the bill, quite the gift by deciding now to finally take on emergency spending reform. That would involve more transparency, stricter criteria about what constitutes an emergency, and better integration of emergency spending into the overall fiscal framework to ensure that such funds are used effectively and responsibly.

The second step is to tackle the staggering issue of improper payments made by the federal government, which soared to $236 billion in 2023. A new paper by Matt Dickerson at the Economic Policy Innovation Center (EPIC) for America notes that this number represents a 5.42 percent improper rate. This adds up to more than the combined total funding of several major government departments, even surpassing the $185 billion provided for the U.S. Army in the same year.

Since 2015, improper payments have increased by $100 billion. Over the last 20 years, the federal government reported a total of at least $2.4 trillion in improper payments. Considering less than 5 percent of improper payments were underpayments, and that the federal government barely even tries to recover overpayments, stopping this trend would make a big difference in reducing budget deficits.

I think we can all agree that improper payments that grow year after year are symptomatic of the sloppiness with which the government manages taxpayers’ hard-earned money. Putting an end to this particularly unacceptable spending should be a no-brainer that transcends bipartisan politics.

Over at the Heritage Foundation, Rachel Greszler rightfully notes that legislators “must verify that government payments are valid, hold bad administrators accountable, and minimize Americans’ reliance on federal programs.” She is correct that reducing the reliance on programs that experience the largest amounts of improper payments, either as a share of the program (Earned Income Tax Credit) or in absolute dollars (Medicaid), is essential. But also, bureaucrats themselves should be held accountable for their mistakes.

These small changes won’t fix everything. Only a reform of entitlement programs would do that. And embracing fiscal responsibility might not bring the immediate thrill of unwrapping a new toy or gadgetespecially for our kids. However, its benefits would endure. Changes could signal a commitment to a more stable and prosperous future not just for ourselves, but for generations to come. This Christmas, let’s hang our stockings with a hope for fiscal sanity, a gift that truly would keep on giving.

World

Former president of Philippines Rodrigo Duterte appears in court accused of running death squads

Published

2 hours ago

March 14, 2025

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Former president of Philippines Rodrigo Duterte appears in court accused of running death squads

Rodrigo Duterte, the former president of the Philippines, has appeared at the International Criminal Court, accused of crimes against humanity.

The 79-year-old appeared in the Netherlands via video link on Friday.

His lawyer said he was suffering from “debilitating medical issues” but the judge in The Hague, Iulia Motoc, said the court doctor had found him to be “fully mentally aware and fit”.

She said he was allowed to appear remotely because he had taken a long flight.

Wearing a jacket and tie, Duterte spoke briefly to confirm his name and date of birth.

He was read his rights and formally informed of the charges. His supporters contest his arrest and say the court does not have jurisdiction.

If convicted, he faces life in prison.

His daughter Sara Duterte, the current vice president of the Philippines, said she was hoping to visit her father and have the hearing moved after meeting supporters outside the court.

Back home in the Philippine capital region, large screens were set up to allow families of suspects killed in the crackdowns to watch the proceedings.

Prosecutors accuse Duterte of forming and arming death squads said to have killed thousands of drug dealers and users during a brutal crackdown on illegal drugs.

Police say more than 6,200 people were killed in what they describe as shootouts while he was president from 2016 to 2022.

They claim he was an “indirect co-perpetrator” in multiple murders, allegedly overseeing killings between November 2011 and March 2019.

Before becoming president, Duterte was the mayor of the southern city of Davao.

According to the prosecution, he issued orders to police and other “hitmen” who formed the so-called “Davao Death Squads” or DDS.

Estimates of the death toll during his six-year presidential term vary, from more than 6,000 reported by national police, to 30,000 claimed by human rights groups.

The warrant for his arrest said there were “reasonable grounds to believe that Mr Duterte bears criminal responsibility for the crime against humanity of murder”.

Duterte has said he takes full responsibility for the “war on drugs”.

He was arrested on Tuesday amid chaotic scenes in Manila, the capital of the Philippines, after returning from a visit to Hong Kong.

He told officers “you have to kill me to bring me to The Hague” during a 12-hour standoff, a Philippine police general said.

He also refused to have his fingerprints taken and threatened Police Major General Nicolas Torre with lawsuits before he was bundled onto a government-chartered jet at a Philippine air base and taken to The Hague, Maj Gen Torre told the Associated Press.

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Environment

1,000 kW fast charging?!? BYD teases tech twice as fast as Tesla, debuting March 17

Published

2 hours ago

March 14, 2025

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1,000 kW fast charging?!? BYD teases tech twice as fast as Tesla, debuting March 17

Build Your Dreams (BYD) is gearing up for what has the makings of an epic launch event this coming Monday. The Chinese automaker announced several incoming debuts coming early next week, including a new “BYD Super e-Platform,” described as a “new benchmark in electric.” What’s most interesting, however, is that BYD is teasing a new ultra-fast EV charger with up to 1,000 kW of power – that’s twice as powerful as the current best on the market.

Automotive conglomerate BYD is at it again, continuously showcasing its innovation and market expansion as a clear force that will not be ignored by the global automotive segment. In addition to several EV marques, including its new ultra-performance Yangwang brand, BYD develops and implements EV battery technology and EV charging infrastructure.

Earlier this week, BYD shared that Yangwang will be launching its new U7 sedan at an event held at the former’s headquarters in Shenzen, China, later this month. Before then, however, BYD is preparing for a launch event for its own namesake as early as this Monday at HQ.

According to a Weibo post from earlier today, BYD’s launch event on the 17th promises the debut of a new high-performance EV platform, the start of pre-sales of two new models, and an unveiling of new EV charger technology capable of up to 1,000 kW. Eat your heart out, Tesla. You, too, Electrify America.

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BYD to unveil 1,000 kW fast charging tech on 3/17

According to the Weibo Post from BYD, its next launch event will take place this coming Monday, March 17 at 7 PM Beijing time (7 AM EDT). The post was translated to English, but essentially promises the debut of its new “BYD Super e-Platform,” which will reinvent pure electric technology.

As reported by CnEVPost, an invitation to the event elaborated on the capabilities of the Super e-Platform, stating it will “use disruptive technology to completely solve the biggest headache in EV use.” That’s assumedly the charging process and how long even the fastest chargers still take in comparison to a gas station visit.

On that note, the BYD event also includes the debut of a new 1,000 kW EV fast charger. Per the post seen above:

1,000-kW flash charging that allows refueling and charging to have the same speed.

A 1,000 kW BYD fast charger would be a marvel and a potential game changer for EV adoption, doubling the power of current industry leaders like Tesla. The American automaker began rolling out its V4 Superchargers in North America in 2023, which are currently capable of 325 kW. However, Tesla has shared plans to boost those capabilities with 500 kW cabinets this year.

Even so, BYD is on the cusp of introducing EV charging capabilities that are double that prospective target, and it already has the technology out in the wild. CnEVPost also shared reports from several auto bloggers in China that captured images of what seems to be the new BYD charger, relaying that specifications listed on the pile support up to 1,000 volts and power of up to 1,000 kW.

BYD also intends to open pre-sales of its Han L and Tang L EVs at the same event. Because of this, there is speculation that both models will sit atop BYD’s Super e-Platform and support charging power of up to 1,000 kW.

We won’t know for sure until Monday, but this sounds like it will be an exciting one from BYD. Circle back to Electrek on Monday for a full recap.

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Environment

Check out Kia’s cool new ‘Unplugged Ground’ EV experience center [Images]

Published

2 hours ago

March 14, 2025

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Check out Kia's cool new 'Unplugged Ground' EV experience center [Images]

Kia opened its new “Unplugged Ground” on Friday, a unique EV experience. The complex has Kia’s latest EVs, including the EV4, on display for visitors to meet and interact with.

Kia opens new Unplugged Ground EV experience

The Kia Unplugged Ground first opened in 2021 following the launch of its first dedicated electric vehicle, the EV6. It’s located in

Since then, Kia has revamped the brand with a new logo, branding, and sleek new styling. It has also introduced an entirely new generation of mass-market EVs that are now rolling out globally.

Kia introduced its first electric sedan, the EV4, earlier this year during its 2025 EV Day event (see our event recap). We also got our first look at the PV5, Kia’s first electric van, and the EV2, its smallest, cheapest model set to launch next year.

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These will join the three-row EV9, and smaller EV3 and EV5 electric SUVs in Kia’s wide-ranging lineup. As part of its “EVs for all” strategy, prices will range from under $30,000 to upwards of $80,000.

To coincide with the launch of the EV4, Kia transformed the EV experience center. The upgraded facility opened in Seongsu-dong, Seoul, on Friday with a futuristic look and cool new interactive technology.

The EV experience center now displays Kia’s entire lineup, including the EV4, EV3, EV6, and EV9. Visitors can interact with the vehicles using Apple’s mixed reality headset Vision Pro, racing simulators, and more. They can even try out the EV9’s advanced driver assistance systems virtually.

Kia-EV4-orders-Korea — Kia EV4 sedan (Source: Hyundai Motor)

Kia’s upgraded EV brand experience comes after it opened EV4 orders earlier this week in Korea. The EV4 starts at 41.92 million won, or roughly $29,000.

Kia EV4 Trim	Starting Price
Kia EV4 Standard Air	41.92 million won ($28,900)
Kia EV4 Standard Earth	46.69 million won ($32,000)
Kia EV4 Standard GT-Line	47.83 million won ($32,900)
Kia EV4 Long Range Air	46.29 million won ($31,800)
Kia EV4 Long Range Earth	51.04 million won ($35,000)
Kia EV4 Long Range GT-Line	51.04 million won ($35,900)

Kia EV4 prices in South Korea (Source: Hyundai Motor)

With a 58.3 kWh battery, the standard EV4 Air is rated with up to 237 miles (382 km) driving range. The long-range model, starting at 46.29 million won ($31,800), features an 81.4 kWh battery for up to 331 miles (533 km) range.

Later this year Kia will launch the electric sedan in the US, Europe, and other global markets. Maybe, we could get one of these futuristic EV experience centers, too?

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