What's the Sahm Rule? Alarming Jobs Report Raises Recession Risk.
A key indicator has predicted every recession since 1970, and the alarm just sounded.
Fiscal policy
Bad News for Universal Basic Income
Researchers found that giving people $1,000 every month for three years resulted in decreased productivity and earnings, and more leisure time.
Here's How To Pay for Trump's Tax Cuts
There seems to be general bipartisan agreement on keeping a majority of the cuts, which are set to expire. They can be financed by cleaning out the tax code of unfair breaks.
Supreme Court Left the Door Open for a Wealth Tax. But It's Still a Terrible Idea.
Wealth taxes discourage investment, shrink wages, and don’t generate much revenue.
IRS Crackdown Nets Enough Revenue To Fund the Government for 90 Minutes
The Biden administration's $60 billion expansion of the IRS has netted $1 billion in new revenue so far.
The 2024 GOP Platform Promises To 'Make America Affordable Again.' So Why Are They Embracing Fiscal Insanity?
Although former President Donald Trump's deregulatory agenda would make some positive changes, it's simply not enough.
Republicans Confirm Their Plan To Let Social Security Go Insolvent
Which party can do the least to fix America's troubled old-age welfare system?
The National Debt Is Crossing an Ominous Line
The U.S. has successfully navigated past debt challenges, notably in the 1990s. Policymakers can fix this if they find the will to do so.
America Is in a Debt Crisis. Will Trump or Biden Address It at the Debate?
The candidate who grasps the gravity of this situation and proposes concrete steps to address it will demonstrate the leadership our nation now desperately needs. The stakes couldn't be higher.
Eating Doritos While Drowning in Debt
Plus: A listener asks if there are any libertarian solutions to rising obesity rates.
The National Debt Is Now So High That Every American Essentially Owes $100,000
We could grow our way out of our debt burden if politicians would limit spending increases to just below America's average yearly economic growth. But they won't even do that.
Biden Keeps Blaming Others for His Economic Mistakes
The president has tried to shift blame for inflation, interest rate hikes, and an overall decimation of consumers' purchasing power.
Trump Wants To Exempt Tips From Income Taxes. Why Stop There?
Reducing revenue without identifying offsetting spending cuts means Trump is merely promising to borrow more heavily.
The GOP Once Claimed To Be the Party of 'Fiscal Responsibility.' So Why Not Reform Social Security?
Reasonable options include gradually raising the minimum retirement age, adjusting benefits to reflect longer life expectancies, and implementing fair means-testing to ensure benefits flow where they're actually needed.
The National Debt Is Making Us Poorer
The average American will lose between $5,000 and $14,000 annually by 2054 due to the burden of the growing national debt.
The Congressional Budget Office's Alternative Scenarios Forecast a Dire Economic Picture
Why aren't politicians on both sides more worried than they seem to be?
No, Politicians Can't 'Fix' Prices—and That's OK
Price controls lead to the misallocation of resources, shortages, diminished product quality, and black markets.
Congress Yet Again Abuses 'Emergency Spending' for Non-Emergency Purposes
Let's just call this what it is: another gimmick for Congress to escape its own budget limits and avoid having a conversation about tradeoffs.
This Tax Week, Remember That the Federal Income Tax Is Relatively New
There are many pervasive myths about the U.S. tax code. Here are a few.
Say No to This: America's Fiscal Norms Are in Decline
Despite their informal nature, those norms have historically constrained U.S. fiscal policy. But they're eroding.
With Rising Debt, the U.S. Federal Government Is in Bad Company
Governments around the world have been on a borrowing spree, and prosperity has suffered.
Biden and Trump Try To Wish Away the Looming Entitlement Crisis
Neither presidential candidate is willing to back the reforms necessary to close the gap between revenue and benefits.
Biden's Antitrust Case Against Apple Is Truly Stupid
Plus: A listener asks about the absurdity of Social Security entitlements.
Marjorie Taylor Greene Introduces Measure To Oust Mike Johnson as House Speaker
Johnson could lose the speakership for the same reasons Kevin McCarthy lost it just five months ago. Who will be next?
A GOP Plan To Raise the Retirement Age Reveals How Unserious Washington Is About Social Security
An obvious, tepid reform was greeted with shrill partisan screeching.
Biden's Proposed Corporate Tax Hike Will Punish the Average American
The president wants to raise the rate from 21 percent to 28 percent, despite it being well-established that this is the most economically-destructive method to raise government funds.
A Bipartisan Tax Hike Won't Fix This Deficit
The government needs to cut back on spending—and on the promises to special interests that fuel the spending.
Georgia Lawmakers Propose Modest Changes to State Film Tax Credits
The credits cost the state over $1.3 billion per year with a 19 percent return on investment. Lawmakers' proposals will do little to change that.
How Increasing Immigration Can Reduce the Deficit
And why the Congressional Budget Office does a poor job of making those estimates.
Politicians Need To Stop Pretending the National Debt Is Sustainable
The reality raises questions about the kind of future we want to leave for the next generation.
What Javier Milei Could Teach Democrats and Republicans About Capitalism
His speech in Davos challenged the growing worldwide trend of increased government involvement in economic affairs.
Interest Rates Are High. GOP Presidential Candidates Need To Get Serious About It.
They will either reduce the ability to spend money or to cut taxes.
On Economic Issues, the Populist Right and Left Share a Lot of Common Ground
That's bad news for Americans.
All I Want for Christmas Is for Congress To Exercise Fiscal Restraint
Lawmakers can take small steps that are uncontroversial and bipartisan to jumpstart the fiscal stability process.
Welcome to the Hyperbole Factory
Plus: A listener asks the editors to consider the libertarian argument against shopping local.
Congress Is Trying To Avoid Taking Responsibility for the Debt Crisis It Created
A fiscal commission might be a good idea, but it's also the ultimate expression of Congress' irresponsibility.
Here's One Way To Move Toward Responsible Government and Sane Fiscal Policy
The Copenhagen Consensus has long championed a cost-benefit approach for addressing the world's most critical environmental problems.
The U.S. Needs a Fiscal Commission Because Congress Won't Do Its Job
In the last 50 years, when the budget process has been in place, Congress has managed only four times to pass a budget on time.
Spending Recklessly in Good Times Is a Recipe for Disaster in Bad Times
Years ago, when interest rates were low, calls for the federal government to exercise fiscal restraint were dismissed. That was unwise.
Jim Jordan Is Trying To Buy the Speakership With Tax Breaks for Wealthy Residents of Blue States
It's a maneuver that makes little fiscal, philosophical, or political sense, but thankfully it also seems unlikely to work.
Americans Learned a Lesson About Interest Rates. Washington Has Not.
Higher rates lead to more debt, and more debt begets higher rates, and on and on. Get the picture?
No, Low Interest Rates Did Not Justify Adding Trillions of Dollars to the National Debt
Especially because the once-dismissed possibility of rising rates is now a reality.
Inflation Won't Go Away Until Congress Gets the Deficit Under Control
The Federal Reserve's higher interest rates were supposed to trigger changes to fiscal policy. So far, that hasn't happened.
The Real Scandal in Washington Is the Government's Reckless Spending
Those sounding the loudest alarms about possible shutdowns are largely silent when Congress ignores its own budgetary rules. All that seems to matter is that government is metaphorically funded.
Congress Is Still Using 'Emergency Spending' on Non-Emergencies
Since Congress won't cut spending, an independent commission may be the only way to rein in the debt.
Don't Let the Government-Shutdown Charade Distract You From the Debt Crisis
America’s biggest fiscal challenge lies in the unchecked growth of federal health care and old-age entitlement programs.
China Is No Economic Model for America
The country's current struggles show the problems of the Beijing way—and make the case for freedom.
