Are These Senators Regretting Their Export-Import Bank Votes?
For some lawmakers, corporate welfare is okay, unless it hurts someone in their district. Four lawmakers from Minnesota and Michigan are up in arms over… Read More
Don’t Ignore Costs of “Stimulus”
Shocking new economic research has shown that receiving large gifts from the federal government is actually beneficial to states. That is not such a… Read More
Tales of the Red Tape #41: The FDA’s Latest Mission Creep(iness)
Federal regulations already dictate the shape, color, size, and content of the nutrition panel on food labels. Not good enough, apparently. The diet squad at… Read More
Does Your Religion Define How You Think About Economics?
The authors of a new Brookings Institution survey believe the American Dream is dead—or at least in trouble. And who’s to blame? Religious conservatives. Progressives,… Read More
Are Americans Better Off Today Than They Were Four Decades Ago?
Many pundits and politicians argue that middle-class incomes have stagnated over the past generation. But more accurate data show that the typical household’s income has… Read More
Social Security Turns 78: What Was It Meant to Do?
When President Franklin D. Roosevelt signed Social Security into law on August 14, 1935, he referred to it as “a law which will give some… Read More
Apple vs. Samsung: Why Is the Obama Administration Involved?
Apple and Samsung have been fighting over cell phone patents for a while. Samsung won a round in June when the U.S. International Trade Commission… Read More
Americans Don’t Need More of Obama’s Stimulus Spending
In a series of campaign-style speeches, President Obama has laid out recycled economic proposals, which include yet another tax increase to pay for $50 billion… Read More
Family-Run Retailer: Internet Sales Tax Would Put Me Out of Business
Rick Smith’s 14-year-old, family-run gourmet kitchen utensil business has a lot to lose if the Internet sales tax becomes law. And he’s not alone. While… Read More
America Needs a New Balanced Tariff Structure
Where does America get its shoes? Today, 99 percent of shoes sold in America come from overseas. Imported shoes are taxed at an average rate… Read More
China Makes Life More Difficult for Foreign Companies
It is widely hoped—in the U.S., China, and elsewhere—that the new Chinese government headed by Xi Jinping and Li Keqiang will restart economic reform. While… Read More
Parents, Not Government, Know How to Feed Their Children
Some Members of Congress think they are better parents than you are. Under the tax code, companies are able to take deductions for business expenses,… Read More
Two Years After Downgrade, U.S. Credit Rating Hasn’t Recovered—and Debt Is Worse
Two years ago today, Standard & Poor’s downgraded the U.S. credit rating—and it hasn’t recovered since. Then, the downgrade came because the President and Congress… Read More
EconomyNews
“Buy American” Laws: An Illusion of Patriotism
Who could oppose “Buy American” measures that appear to support American manufacturing and create jobs? On the surface, that’s what the All-American Flag Act seems… Read More
As Detroit Goes, So Goes the Nation
Detroit is the poster child for economic decline. The city’s policies and politics over the past half-century should serve as a “do not” guide for… Read More
A Constructive First Step to Reform Social Security
Dave Camp (R–MI), chairman of the House Ways and Means Committee, has announced a series of hearings on bipartisan entitlement reform proposals, the first of… Read More
Expiration of Trade Preference Program Means Higher Prices
On July 31, the Generalized System of Preferences (GSP) expired. GSP is a program that waives tariffs on thousands of products that Americans import from… Read More
Milton Friedman at 101: We Need His Ideas Now More Than Ever
Today, on what would have been Milton Friedman’s 101st birthday, we celebrate the enduring insights of an economist and thinker whose ideas have served as… Read More
Detroit Today, Illinois Tomorrow
Detroit’s bankruptcy petition last week was far from a surprise, but what should be noted is that it is the first of what will likely… Read More
Treasury Secretary Lew Ignores Real Debt Problem, Looming Crisis
U.S. Treasury Secretary Jack Lew suggested yesterday on NBC that “we have already done a lot of deficit reduction.” In reality, government spending and debt… Read More
EconomyNews
Sequestration Helps Force Needed Spending Cuts and Enables Private-Sector Jobs
The Congressional Budget Office (CBO) released a letter this week describing how canceling sequestration in 2014 would affect the economy. The CBO dutifully plugged the… Read More
Reckless Government Spending Isn’t Funny, But This New Sitcom Is
Do you think the federal government spends too much money? The answer is pretty obvious — and not a laughing matter. But the group Bankrupting… Read More
Occupy Wall Street Occupies the White House
The Occupy Wall Street Movement may be dead as a doornail, but its spirit is alive and well in the White House. Only a few… Read More
Reid Throws Major Roadblock in Front of Tax Reform
Senate Majority Leader Harry Reid (D–NV) has just thrown a roadblock in front of tax reform that could stall the strong momentum that has been… Read More
Why Don’t We Have Free Trade with Every Country?
With a July 31 expiration date fast approaching, both the House and Senate last week introduced legislation that would extend free trade preferences to developing… Read More
How Government Shut Down the Chinatown Bus
The federal regulatory apparatus has made Americans poorer and less safe, and it has eliminated hundreds of jobs by shutting down 41 bus companies in… Read More
Defunding COPS: Eliminating a Wasteful and Ineffective Grant Program
The House of Representatives Appropriations Committee marked up the Commerce, Justice, Science, and Related Agencies Appropriations Bill for fiscal year 2014 last week. While the… Read More
Detroit Bankruptcy Is No Time for Federal Bailouts
The city of Detroit filed for Chapter 9 bankruptcy protection yesterday with some $18 billion in debt, making it the largest municipal bankruptcy in the… Read More
“Everyday High Prices” Should Not Be Trade Agency’s Slogan
Trans-Pacific Partnership (TPP) trade negotiations are taking place this week in Malaysia. Here’s a modest suggestion to help new U.S. Trade Representative Michael Froman bring… Read More
Footnote Failure: Gap Between Productivity and Pay Is Overstated
Paul Krugman and many others argue that compensation has not grown as fast as productivity. However, most of the apparent gap between the growth… Read More
