The Presidential Solution to Taming the Growing Federal Debt
Only presidential power can tame America's massive federal debt.
If compound interest is the most powerful force in the universe, America is on the wrong side of it. At more than $36 trillion, the federal debt is high and growing faster than we can afford.
Interest alone will cost $1.2 trillion this year, adding substantially more to the debt. Unaddressed, this escalating debt spiral threatens both the financial system and basic government services that millions of Americans rely on.
The crisis stems from congressional incentives, which are no longer balanced by healthy checks from other branches.
Currently, congressional incentives are all geared for immediate local spending and not for long-term national health. Representatives are elected to represent local constituents, not national interest. With hundreds of lawmakers involved, no one can be held accountable for spending. And their short, two-year terms encourage immediate spending over long-term sustainability. Their incentives virtually guarantee budget failure.
Economic Dynamism
The American Dream Is Not a Coin Flip, and Wages Have Not Stagnated
This paper challenges the prevailing narrative that stagnant wages are causing the American dream to fade. It contrasts subjective public opinion with revised objective intergenerational mobility measures.
Political Economy and the Rise of Commercial Humanism
Western attitudes toward commerce have transformed from early moral condemnation to a modern appreciation that sees trade as socially beneficial.
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A Bad Business on the Bayou
Chevron finds itself the victim of a political alliance between the tort bar and Louisiana Republicans.
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Congress Must Shield US Companies from European Regulations
Congress should exercise its constitutional powers over foreign commerce to guard American companies against overregulation by the European Union.
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Trade Protection and Tariffs from Reagan to Trump
Donald Trump's enthusiastic embrace of tariffs and protection for American industry appears to be a complete reversal of Reagan and Reagan-era policy.
Transatlantic Trade War Produces No Winners
The EU should end its competition policy vendetta. Trump should drop his tariffs.
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