Economic Policy News

Last Sunday, economic freedom and sound governance took a hit in Ecuador. Lenín Moreno, the nation’s former vice president and socialist candidate, won by a narrow margin amid widespread charges of electoral fraud. The outcome all but secures a fourth consecutive term for outgoing President Rafael Correa’s socialist Alianza Pais party. Ecuadorian law prevented Correa…

America must kick its addiction to spending before it becomes an insurmountable crisis. On Thursday, the Congressional Budget Office released its “2017 Long-Term Budget Outlook,” which lays out budget and economic projections for the next 30 years. The report shows that time to fix the nation’s skyrocketing debt levels is running out and Congress must…

When then-North Carolina Gov. Pat McCrory signed H.B. 2, the Public Facilities Privacy and Security Act (commonly known as the “bathroom bill”), into law on March 23, 2016, critics argued that corporate backlash against the measure would cost North Carolina dearly. Now, more than a year later, the Associated Press has provided an updated estimate…

Americans who are concerned about unsustainable and reckless government spending have faced a fundamental problem: It’s hard to track what their representatives are doing to either curb, or increase, spending. But thanks to a new tracking tool, those days may be coming to a close. The Coalition to Reduce Spending has just released a tool…

President Donald Trump’s long-awaited skinny budget is finally here. This slim budget reprioritizes defense spending and reverses eight years of Obama-era shifts in spending from a core constitutional priority toward the president’s domestic pet projects. Federal agencies, beware: The era of fiscal profligacy may be coming to an end, and quickly. Trump’s first budget plays…

In 1990, with the fall of the Soviet Union and following eight years of military buildup under President Ronald Reagan, the American people seemed to agree: The United States was spending enough on the military. Fast forward to 2017, and it’s obvious that sentiment has gone the way of the dinosaurs. A Gallup poll released…

A new report from the United States trade representative links America’s trade deficit with other countries to trade deals entered into going back to the Reagan administration. Those deal include the North American Free Trade Agreement, the Uruguay Round Agreements that created the World Trade Organization, China’s 2001 Protocol of  Accession  to  the  World Trade…

Last weekend, Ecuadoreans did something they haven’t done since 2006: They voted in significant numbers against the socialist Alianza Pais party of three-term leftist President Rafael Correa. After a suspiciously delayed ballot count, electoral authorities finally certified on Feb. 23 that more than 60 percent of Ecuadoreans voted for a candidate other than Correa’s hand-picked…

The news of Michael Novak’s death Feb. 17 saddened close friends and colleagues in the community of think tank scholars who drew so much from his writings and lectures. Novak’s perspectives expanded our conceptual grasp of economic liberty beyond dry formulas to include a more complete picture of the creative, human, and virtuous nature of…

It’s already been eight years since the Great Recession, yet the U.S. economy has been just inching along, with its productivity flagging and millions being locked out of the labor market. One critical underlying factor for this lack of economic dynamism has been the startling decline of America’s economic freedom, an unfortunate legacy of Barack…

When members of Congress defend earmarks with “power of the purse” rhetoric, don’t fall for it. Congressional earmarks threaten the integrity of government spending. This January, Senate Republicans led by Arizona Sen. Jeff Flake voted to continue the moratorium on earmarks for the 115th Congress. Flake backed his sentiment with a witty comment that “you…

Late last week, we were reminded of how much work needs to be done to clean up the mess President Barack Obama left when the Bureau of Economic Analysis announced the economy grew at a dismal 1.9 percent in the fourth quarter—wrapping up 2016 with a growth rate of just 1.6 percent. This growth is…

The Congressional Budget Office’s budget and economic outlook for the next decade paints a grim picture of the nation’s fiscal situation and shows we continue to be on an unsustainable budget path. Despite years of warnings by CBO and others that this path will lead to fiscal disaster, Congress continually has failed to make substantive reforms….

In a win for the economy and the environment, President Donald Trump signed executive orders backing the construction of two unnecessarily controversial energy infrastructure projects: the Keystone XL pipeline and the Dakota Access pipeline. Getting the green light for the completion of the pipelines is kind of like receiving your appetizer halfway through your meal….

This week, Congress is expected to pass the second continuing resolution of the year, keeping the federal government operating until late April and avoiding a government shutdown. The bill released late Tuesday would provide $1.070 trillion in base discretionary funding as well as an additional $10.1 billion for Overseas Contingency Operations (a defense supplement), $4.1…

With control of both the White House and Congress, Republicans finally have the opportunity to reignite the economy. American families and workers have been waiting for eight long years for a return to healthy economic growth and opportunity, and congressional Republicans are ready to deliver. Along with Obamacare and the Environmental Protection Agency’s regulatory excesses,…

U.S. government spending on public relations campaigns, including NASA's Green Ninja videos on global warming and the Pajama Boy ads for Obamacare, should raise serious questions about fiscal responsibility and where to draw the line between appropriate communication and propaganda. The government spent about $1 billion annually on advertising and public relations from 2006 to 2015,…