Debt and Deficits
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One Vote Away: The Balanced-Budget Amendment That Almost Passed
Decades after Congress missed a golden opportunity, it’s time to get serious about controlling runaway federal debt.
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Better Policy is Not Enough in Argentina
Milei’s reforms are a step in the right direction, but Argentina finds itself in familiar territory: economic instability, a volatile currency, and persistent uncertainty.
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We Have Never Been Austere
Austerity never means “spending less,” only growing a bit more slowly. That rhetorical dodge created a permanently expansionary state, in real, per-capita, and GDP-adjusted terms.
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Playing Chicken with the Federal Budget: The Rational Stupidity of Shutdowns
Government shutdowns might look irrational, but they follow a familiar script. When political types gain more from the standoff than the solution, collisions become routine.
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A Government Shutdown Is Less Scary Than Dysfunction-As-Usual
Shutdowns get the spotlight, but the greater failure is Congress’s reliance on stopgap spending bills that cripple planning and invite waste.
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The Fed Cuts, but the Market Shrugs: Why Mortgage Rates Refuse to Fall
The Fed can lower the funds rate, but only Congress can rein in the spending that keeps long-term yields — and mortgage rates — stubbornly high.
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Argentina’s Least-Competitive Sectors Fight Market Reforms
Javier Milei has slashed inflation and deregulated markets — but entrenched interests and old powers are fighting back.
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How Not to Run a Household — or a Country
What if Donald Trump ran Mar-a-Lago’s economic affairs in the same way that he’s trying to run America’s? Let’s take a look.
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Mission Creep: The Fed’s Foray Into State and Local Debt
The Fed’s scheme to offer credit to states and municipalities was fiscal policy in disguise, turning local mismanagement into a national problem.
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Zucman’s Wealth Tax Can’t Save France From Itself
“Reality will remain relentless,” Bayrou warned after his ouster. Taxing billionaires won’t come close to covering France’s deficit.
-
•
One Vote Away: The Balanced-Budget Amendment That Almost Passed
Decades after Congress missed a golden opportunity, it’s time to get serious about controlling runaway federal debt.
-
•
Better Policy is Not Enough in Argentina
Milei’s reforms are a step in the right direction, but Argentina finds itself in familiar territory: economic instability, a volatile currency, and persistent uncertainty.
-
•
We Have Never Been Austere
Austerity never means “spending less,” only growing a bit more slowly. That rhetorical dodge created a permanently expansionary state, in real, per-capita, and GDP-adjusted terms.
-
•
Playing Chicken with the Federal Budget: The Rational Stupidity of Shutdowns
Government shutdowns might look irrational, but they follow a familiar script. When political types gain more from the standoff than the solution, collisions become routine.
-
•
A Government Shutdown Is Less Scary Than Dysfunction-As-Usual
Shutdowns get the spotlight, but the greater failure is Congress’s reliance on stopgap spending bills that cripple planning and invite waste.
-
•
The Fed Cuts, but the Market Shrugs: Why Mortgage Rates Refuse to Fall
The Fed can lower the funds rate, but only Congress can rein in the spending that keeps long-term yields — and mortgage rates — stubbornly high.
-
•
Argentina’s Least-Competitive Sectors Fight Market Reforms
Javier Milei has slashed inflation and deregulated markets — but entrenched interests and old powers are fighting back.
-
•
How Not to Run a Household — or a Country
What if Donald Trump ran Mar-a-Lago’s economic affairs in the same way that he’s trying to run America’s? Let’s take a look.
-
•
Mission Creep: The Fed’s Foray Into State and Local Debt
The Fed’s scheme to offer credit to states and municipalities was fiscal policy in disguise, turning local mismanagement into a national problem.
-
•
Zucman’s Wealth Tax Can’t Save France From Itself
“Reality will remain relentless,” Bayrou warned after his ouster. Taxing billionaires won’t come close to covering France’s deficit.