CATO's Edwards on Gov't Cost Overruns

CATO's Edwards on Gov't Cost Overruns

FOXNews.com - Views - CATO - Our Over-budget Government

Governments will always be wasteful users of resources because they tend to replace competition with monopoly and market pricing with bureaucratic regulations. In addition, since public officials do not risk their own personal funds, they are more likely to support unsound schemes and less interested in making sure programs stay on budget. As a consequence, we would be better off if Congress scaled back entitlement programs rather expanded them, privatized infrastructure such as airports and energy projects, and let entrepreneurs put up their own capital for risky pursuits such as space exploration.