“But history doesn’t wait for anybody to vote on it. That affects everything, including the economy.”
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If you prioritize economic growth over social spending, you will have a great measure of both: if you prioritize social spending over growth you will have less of both.
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Presidents get too much credit and blame for an economy as if it turns on a dime the moment they are elected. The right want to credit Trump for the sharp rise since he was elected, but attributes no credit
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from An Anti-Growth Tax Cut by Kevin Williamson in The National Review In economic terms, there are two things going on with those revenue and deficit numbers. One is the structural issue, i.e., tax policy, spending, etc. The other is
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from The WSJ, Phil Gramm and Michael Salon, Reagan Cut Taxes, Revenue Boomed: As inflation plummeted from the CBO’s projected average annual rate of 8.3% for 1982-86 to an average of 3.8%, revenue compared with projections tumbled $22 billion in 1982
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When we complain about others being ideological, aren’t we really complaining about their ideology? It is not the act of committing to a principle, it is the principle they are committed to. It is the other person’s ideology we have
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There are simplistic voices in the GOP- not just the religious ones, but the ones that think a balanced budget amendment will solve all of our problems, that the Fed should be abolished and that we should return to a
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From The Atlantic by Derek Thomson, The Most Important Graphs from 2011, 12/21/11 This graph shows how the richest 1% have take a larger share of the economy in the last 35 years: … or does it? This graph does
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The potential fallacy of the budget reformers is to focus ONLY on the reduction in government and government spending. Having a smaller government is desirable and productive. Getting to that point, however, can be very painful and not addressing the
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Here is my two cents on the debt ceiling negotiations: It is a spending problem and it is a growth problem. Past solutions have delivered on tax increases but failed to deliver on spending cuts. It is clear that increasing
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Interest rates and inflation are at a record low, yet stimulus spending has flooded the markets with currency. The valve that turns money creation into inflation is velocity. The velocity is very low because businesses are reluctant to invest and
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To say that economics is about money is like saying art is about color. Money is a critical element, but it explains very little about the discipline. Many laymen confuse economics with finance. While the subjects substantially overlap, our recent
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At National Review Conrad Black writes “An Awful First Year”. A Comprehensive rant about Team Obama’s first year, this passage focuses on an historical perspective of presidential foreign policies: Dwight D. Eisenhower came into office determined to end the Korean
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