Recession Is Not Inevitable, Despite Stock Market Slump
A few reasons to remain calm about the economy
GDP
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.
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 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?
American Manufacturers Need Tax and Regulatory Reform, Not Tariffs
Despite both presidential candidates touting protectionist trade policy, tariffs do little to address the underlying factors that make it difficult for U.S. manufacturers to compete in the global marketplace.
NOAA Billion-Dollar Weather Disasters Are Not Evidence of Climate Change
Weather and climate disaster losses as a percentage of U.S. GDP have not increased between 1990 and 2019, a new study finds.
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.
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.
Shrinkflation Is Real—and It's Largely Biden's Fault
The president criticized companies for selling "smaller-than-usual products" whose "price stays the same." But it was his and his predecessor's spending policies that caused the underlying issue.
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.
3 Economic Myths That Need To Die
As we step into 2024, it's crucial to adopt a more informed perspective on these dubious claims.
Yes, Heavy Regulation Hurts the Economy. Just Look at France.
We're often told European countries are better off thanks to big-government policies. So why is the U.S. beating France in many important ways?
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.
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?
'Bidenomics' Is Failing Everyday Americans
The big spending has fueled higher inflation, resulted in larger-than-projected deficits, and contributed to a record level of debt.
The U.S. Credit Rating Just Dropped. It's Time for Radical Budget Reform.
The lack of oversight and the general absence of a long-term vision is creating inefficiency, waste, and red ink as far as the eye can see.
'Bidenomics' Is Nothing New
It's a familiar program. And it will result in higher prices, slower growth, and fewer jobs.
The Next President Needs To Cut Spending
At a minimum, the national debt should be smaller than the size of the economy. A committed president just might be able to deliver.
The Fed Won't Save Us From the Inflation Iceberg
Plus: Was Gerald Ford right to pardon Richard Nixon?
The Debt Ceiling Deal Does Not Go Nearly Far Enough
Projections of huge savings are making the rounds. Nothing could be further from the truth.
Taxing the Rich Will Have No Meaningful Effect on Our Sky-High National Debt
The U.S. tax system is extremely progressive, even compared to European countries—whose governments rely on taxing the middle class.
The Debt Ceiling Fight Is a Reminder of America's Dire Fiscal Future
The longer we wait to address our debt, the more painful it will be.
The Biden Administration Reduced the Debt-to-GDP Ratio in the Worst Possible Way
The main driver behind the reduction is inflation—inflation that politicians created with their irresponsible spending.
The Push To Eliminate Fossil Fuels Is Hurting Poor People
"When we look at solar and wind around the world, it always correlates to rising prices and declining reliability."
Biden's New Budget Would Hike Taxes and Wage Class Warfare
The higher taxes on small businesses and entrepreneurs could slow growth. Less opportunity means more tribalism and division.
The Fight Over the Debt Ceiling Is Just Beginning
Legislators will increasingly argue over how to spend a diminishing discretionary budget while overall spending simultaneously explodes.
Social Security Is on the Brink of Collapse. The GOP Won't Touch It.
In 1950, there were more than 16 workers for every beneficiary. In 2035, that ratio will be only 2.3 workers per retiree.
To Win the Speakership, Kevin McCarthy Had To Promise To Cut Spending. Good.
While some Republicans may have had misguided motivations, a few disrupted McCarthy's campaign in order to enact fiscal restraint. Their colleagues were fine with business as usual.
Congress Can Reduce the Deficit by $7.7 Trillion in 10 Years
The Congressional Budget Office projects that future deficits will explode. But there's a way out.
A GOP-Led Congress May Focus on Owning the Libs. Instead, It Should Focus on Owning Inflation.
If the midterms favor Republicans, their top priority needs to be the fight against inflation—whether or not they feel like they created the problem.
Latest GDP Numbers Aren't Calming Recession Fears
The U.S. Bureau of Economic Analysis reports that GDP grew 0.6 percent in the third quarter of 2022.
After 2 Consecutive Quarters of Negative Economic Growth, Is America in a Recession?
Most Americans believe so.
A Wonky Evisceration of Biden's Bad Deficit Math
Interest rates and servicing costs could push us into worrisome territory sooner than we think.
France's Authoritarian Establishment Faces Off Against the Even Uglier Authoritarianism of the Far Right
French President Emmanuel Macron is authoritarian-light. Candidate Marine Le Pen is worse.
Blame Insane Government Spending for Inflation
Some want to solve the problem with subsidies for gas, housing, child care, and more. That only risks greater stagnation.
More Defense Spending Does Not Equal More Safety
Congress continues to allocate funds to produce weapons that the Pentagon itself says it doesn't need.
Our Insane Government Spending Will Hurt Our Response to Ukraine
We must face the reality that the debt does matter.
Biden Administration To Donate 500 Million Doses of Pfizer-BioNtech Covid-19 Vaccine to Poor Countries
Epidemics anywhere threaten immunization efforts everywhere, including here at home.
Biden's Astronomical Budget Proposal Even Has Some Democrats Worried
The spending plan demonstrates an unwillingness to govern and a preference for pandering to special interests.
Biden's Manufacturing Plan Is $700 Billion Worth of Protectionism
Never let a good manufactured crisis go to waste
The Pandemic's Economic Carnage Looks Worse Than Expected
Get ready for more pain caused by COVID-19 as well as by the policies intended to hold it in check.
My Puzzlement Over Climate Change Damage Estimates in New National Climate Assessment
Implausible worst-case scenarios do not further the debate over reasonable policies for addressing climate change.
Natural Disasters Are Destroying a Lower Percentage of Humanity's Stuff Since 1990
Absolute losses increased, but the proportion of losses relative to global GDP has dropped
Artificial Intelligence Will Be More Economically Consequential than Steam Power Was
AI could boost economic growth by 1.2 percent annually between now and 2030.
