Why do politicians acknowledge the debt crisis during hearings but refuse to take action when they have the power to do so? Is the U.S. debt a result of ignorance or a calculated consequence of the political “gravy train”?

In his latest article, Craig Eyermann discusses the nature of fiscal responsibility in Washington, explaining why both parties prioritize short-term political survival over long-term economic stability. Then, in a separate piece, Eyermann looks at the State of California specifically, which is currently facing its fifth consecutive budget deficit, with a staggering $125 billion shortfall accumulated over the last four years. Eyermann explains that the Golden State’s financial problems aren’t just a streak of bad luck; they stem from a deliberate and unsustainable spending strategy.

Analog bureaucracy adds years and tens of thousands of dollars to the cost of new homes. Scott Beyer asks a reasonable question: why not use technology to make it faster? Using large language models to assess permits is already a viable technological solution, as evidenced by cities like Austin. But as Beyer notes, NIMBY homeowners and municipal agencies are incentivized to keep the system slow.

Finally, Sam Jenson writes about the viral case of an Ohio jury that sided with rapper Afroman against the deputies who raided his house.

And don’t forget to register for our Unsung Heroes of the Market virtual event on Wednesday, April 8th! The team behind The Independent Review will discuss forgotten economists whose work deserves celebration.

Thanks for reading.

Jonathan Hofer
Managing Editor