Tag: economy
Fed Chief Says U.S. on Unsustainable Fiscal Path

Do the U.S. national debt and the government’s budget deficits matter? If you listen to the economists shaping the Biden administration’s policy agenda, they say they do not. Their basic argument is that with interest rates so low, the government can borrow as much as politicians want to spend. They think they never have...
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Who Is Paying for President Biden’s Spending?

When President Joe Biden was sworn into office on January 20, 2021, the U.S. government’s total public debt outstanding stood at $20,751.9 billion. The chart below shows who Uncle Sam borrowed all that money from on that date:

Are We Witnessing the Beginning of the Covid-19 Ratchet Effect?

Nearly 13 months after the first confirmed Covid-19 infection in the US, President Biden held a memorial as the country surpassed 500,000 deaths attributed to the pandemic. Mourning a great tragedy, President Biden noted these casualties surpass the lives lost during WWI, WWII, and the Vietnam War combined. While alarmingly high fatalities signify a...
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Thomas Sowell on Truth and Proportionality

“Even the best things come to an end,” wrote Thomas Sowell in late 2016, as he shut down his newspaper column in order to “spend less time following politics and more time on my photography.” Four years later, when he turned 90, the economist and Hoover Institution fellow was back with Charter Schools and...
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Venezuela Goes Digital–It Won’t Fix the Problem

Venezuelan President Nicolas Maduro recently announced that the country will be moving toward a “fully digital” economy. The South American nation has struggled in recent years with rampant shortages of staple goods, civil unrest, and hyperinflation. According to the opposition-controlled National Assembly, consumer prices rose more than 65 percent in November, placing the interannual...
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To Live and Dine in L.A.

Los Angeles County Supervisor Sheila Kuehl believes “outdoor dining is probably more dangerous in terms of contagion than any other kind of business,” so on November 30 she voted to uphold a ban on outdoor dining in the county. Hours after casting her vote, Supervisor Kuehl dined outside at the upscale Il Forno Trattoria...
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How Did Forecasters Get the Pandemic Economy So Wrong?

The stock market and the consensus of forecasters are two sources of economic intelligence that are often enough at odds. But history hardly ever saw a gulf as wide as what occurred in this year of pandemic. Just before the general shutdown began in March, the market’s plunge corroborated the influx of popular fear...
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Populism Is Far From Over

Many people overseas infer from President Trump’s electoral defeat that most Americans are finally fed up with populism. They miss the fact that populism is just as powerful in the Democratic Party as it is in the Republican Party and that Trump got some 70 million votes. Populism has been a defining trait of...
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Free Will: Getting the Economics Right

The philosopher Ludwig Wittgenstein [Tractatus Logico-Philosophicus, 1921; Philosophical Investigations, 1953] famously argued for the analytical necessity of “getting the grammar right.” By his lights, the inadequacy of language for representing ethical, aesthetic, and metaphysical concepts unavoidably creates philosophical pseudo-problems; genuine problems were said to be scientific rather than philosophical. Philosophy’s task, therefore, is to...
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Is the Presidential Election Winner Ready to Face a Mammoth Debt Crisis?

Writing in Foreign Policy, economist Dambisa Moyo paints a nightmare scenario of what is waiting for the next U.S. President:

  • Catalyst
  • MyGovCost.org
  • FDAReview.org
  • OnPower.org
  • elindependent.org