Source: Washington Post
by Megan McArdle
“The magic pot of money is a Washington evergreen. Some politician or policymaker theorizes a fantastically large sum of government spending that can be easily excised from programs without affecting deserving beneficiaries or angering powerful interest groups. The belief in its existence has inspired many a politician to go on the hunt, but thus far, the quarry has proved elusive …. Yet every generation, a new hero sets out to find these mythical riches so that they can be returned to their rightful owner, the American taxpayer. Musk thinks he is that hero, having suggested that with the support of the president, we can find $1 trillion in deficit reduction. And hey, he has certainly performed many epic feats. So perhaps he will finally slay the dragon of government inefficiency and liberate this pot of money from its hoard. But that’s not how you should bet.” (02/17/25)