What Might Austerity Look Like in 21st-Century America?
Is “austerity” in the future for the US Government? Awash in debt and facing economic crises, the government may have to go on a diet, something neither Congress nor the president want to do.
Big Government
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Fourteenth Amendment DEI Lawfare
The Fourtheenth Amendment has been used in divisive ways, giving the lie to its claim of “equal protection” under the law. We can have equality under the law, or we can have what is becoming a race-based spoils system. We cannot have both.
The Tariff and Income Tax Toggle
President Trump has suggested that the government eliminate the personal income tax and replace it with tariffs. While some may champion that proposal, the truth is that it is much easier to add a new tax than it is to eliminate it.
Tariffs Bring Pain without Gain
Sen. Tommy Tuberville recently claimed that Trump‘s tariffs will improve the economy, but only after a period of painful adjustment. “No pain, no gain,” he said. The truth is that the tariffs will inflict pain without any net gains.
The True Cost of War
This article delves into the real cost of war as explained by Joseph Salerno in his book Money: Sound and Unsound. Contrary to Keynesianism, war destroys wealth and destroys an economy from within.
Cuts to Foreign Aid Are a Good Start
While attempts to eliminate USAID are garnering a lot of publicity, the truth is that the foreign aid budget needs even more cutting than the Trump administration is willing to do.
Dismantling the Department of Education?
Phasing out the Department of Education is a step in the right direction towards an increasingly market-oriented system of education.
Richard Murphy, The Bank of England, And MMT Confusion
Belief in the fairy tale known as Modern Monetary Theory not only is endemic in US academic and government circles, but is also making headway in Great Britain. We are being forced to learn all over again the lessons of inflation.
Covid: The New, “New Deal” Revisionism Is Already Starting
Five years later, the rebranding of the covid pandemic is already happening and, unfortunately, showing some success. This is similar to how the New Deal was rebranded as a resounding success when it was a measurable failure.
Tariffs Also Tax Capital, Not Just Consumption
President Trump has promised “billions and billions” of dollars in new revenue from his tariffs not to mention economic rejuvenation. The odds are not in his favor, to put it mildly.
