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
Partisan Trust in the Federal Reserve
This paper examines partisanship in public perceptions of the Federal Reserve.
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.
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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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The Sound of Five Thousand Banks Collapsing
With the passage of the Federal Reserve Act, many hoped that the new Federal Reserve Banks would make future financial crises impossible.
Canada Needs a Pro-Growth Economic Strategy More Than Ever
Canada has stopped growing over the past decade, with per capita growth rates at the bottom of all OECD countries and per capita GDP levels almost unchanged since the mid-2010s.
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