It’s more than twice the size of the stimulus approved during the last crisis. And it’s likely to be just as ineffective. It’s understandable that the governments of the U.S.…
Why Interest Rates Will Remain Low
Part two of a two-part series on interest rates and the federal debt. Servicing the federal debt will cost U.S. taxpayers $479 billion this year, even though interest rates are…
The Interest Rate Paradox
Part one of a two-part series on interest rates and the federal debt. Call it the interest rate paradox. If interest rates remain low or trend lower, the federal debt…
Modern Monetary Theory – Deficit Thinking
If you think Greece should serve as an economic model for the United States, you’ll love modern monetary theory (MMT). MMT advocates like Congresswoman Alexandria Ocasio-Cortez (AOC) (need I say…
Debt, Monetary Policy Causing Economic Damage
Even with interest rates just above zero for seven years, and government spending regularly producing deficits of $1 trillion a year, economic growth was well below average throughout the Obama…
Best Way to Address the Trade Deficit—Ignore It
For each of the past 42 years, America has imported more goods than it has exported. Before 1976, America had a trade surplus each year beginning with the end of…
Entitlements Are Bankrupting America
Since the end of World War II, federal tax revenue has grown 15% faster than national income. Federal spending, though, has grown 50% faster. These two statistics should scare all…
The Globe’s New Math
The headline in a recent edition of The Boston Globe read, “White House proposes $4.4 trillion budget that adds $7 trillion to deficits.” That a $4.4 trillion budget could produce…
Tax Reform: A Recipe for Faster Growth
While one of the longest economic recoveries in U.S. history is still taking place, the current economic expansion has been disappointingly dull. Keynesians in the Obama administration claimed that 2%…
More Than $1 Million per Taxpayer Owed – and Climbing
It seemed tragic back in October 1981 when the federal debt reached $1 trillion. How would we ever pay back $1 trillion? The real tragedy, though, is what’s happened since…