Big Government

ENDNOTES

1

See Hopkins (1996).

2

Measured in 2000 dollars. See Crews (2002).

3

See Kliesen and Thornton (2001).

4

See Crippen (2001).

5

The CBO’s projections place the cause of the decline in the surplus roughly equally split between falling revenue and rising expenditures. See Congressional Budget Office (2002).

6

The CBO could not have foreseen the events of Sept. 11, the subsequent war on terrorism, the 2001 recession and the plunge in equity values.

7

See NABE (2002).

8

http://www.gallup.com/poll/releases/pr020902.

9

See Executive Office of the President (2002).

10

See Blumenstein, Clowes, Holt Frankle and Stanton (2002).

11

See Dudley and Warren (2002).

REFERENCES

Blumenstein, Paul; Clowes, J. Howard; Holt Frankle, Diane; and Stanton, Scott. “President Signs Sarbanes-Oxley Act of 2002,” GrayCary law firm. http://www.gcwf.com/articles/interest/ interest_55.html

Congressional Budget Office. “The Budget and Economic Outlook: An Update.” Report to the Senate and House Committees on the Budget. Washington, D.C., August 2002.

Crews, Clyde Wayne, Jr. “Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State,” Cato Institute. Washington, D.C., 2002.

Crippen, Dan L. “Extending the Budget Enforcement Act.” Statement before the Committee on the Budget, U.S. House of Representatives, June 27, 2001.

Dudley, Susan and Warren, Melinda. “Regulatory Response: An Analysis of the Shifting Priorities of the U.S. Budget for Fiscal Years 2002 and 2003,” 2002-2003 Annual Report, Regulatory Budget Report No. 24, June 2002. Weidenbaum Center on the Economy, Government, and Public Policy at Washington University in St. Louis; and the Mercatus Center at George Mason University in Arlington, Va.

Executive Office of the President. “Draft Report to Congress on the Costs and Benefits of Federal Regulations,” Office of Management and Budget, March 28, 2002. http://www.whitehouse.gov/omb/inforeg/cbreport.pdf.

Hopkins, Thomas D. “Regulatory Costs in Profile,” Center for the Study of American Business at Washington University in St. Louis, Policy Study No. 132, August 1996.

Kliesen, Kevin L. and Thornton, Daniel L. “The Expected Federal Budget Surplus: How Much Confidence Should the Public and Policymakers Place in the Projections?” Federal Reserve Bank of St. Louis Review, March/April 2001, Vol. 83, No. 2, pp. 11-24.

National Association for Business Economics News, NABE Panel Gives Monetary Policy Rave Reviews But Fiscal Policy Mixed; Double-Dip Recession Unlikely. March/April 2002. No. 150, p. 8.