What is “cronyism,” and why does it matter? Merriam-Webster defines it as “the unfair practice by a powerful person (such as a politician) of giving jobs and other favors to friends.” This matters because there are only a few in power, and chances are you’re not one of the favored “friends”—but it’s your money they’re playing with. In our new video, we explain what Washington is doing with some of your hard-earned money—in addition to the big-government programs you’ve already heard of.