Acton Line

On November 7, 2022, the jackpot for the Powerball lottery reached an astonishing $2.05 billion. Even after the federal and state governments take their piece of that, the winner will still be the recipient of a life-changing amount of money, more than enough to last an entire lifetime. But if the winner of that $2.05 billion Powerball jackpot was the United States federal government, they'd burn through that enormous sum of money in just over a week. How did the federal budget get this large? What does that budget say about our political system and the desires and priorities of the public and politicians? In this episode, Eric Kohn sits down with Dr. David Hebert, chair of the economics department and associate professor of economics at Aquinas College in Grand Rapids, to discuss his recent article for the American Institute for Economic Research using the Powerball to explain the size and scope of the federal budget. David Hebert graduated with a bachelor's degree in economics from Hillsdale College in 2