My friend and colleague William Niskanen has passed away. Bill was a founding Public Choice scholar, and his theory of the budget maximizing bureaucrat is still important and still correct. It has been cited over 5000 times. He hired me at President Reagan’s Council of Economic Advisers and went from there to the Cato Institute where he was Chairman for 23 years. Cato has a tribute on their website. He will be missed and we will miss his trenchant comments on the political scene. A sad day.