Fiscal Policy
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Congress Is Moving the Goalposts on Fiscal Responsibility
Is targeting three percent of GDP a turning point, or another empty promise?
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Is Silicon Valley Shifting Right, Or Just Toward Power?
The tech industry’s growing dependence on government contracts and its fear of a ‘billionaire’ tax are reshaping political terrain.
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April Fools for America First? Higher Prices and New War
The President returned to office on promises to lower costs at home and restore our reputation abroad. Americans got the opposite.
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Could a Rule-Bound Fed Constrain Congressional Spending?
The Fed’s lack of clear rules makes it vulnerable to outside pressure. A commitment to price stability could force Congress to confront its own excesses.
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Silent Cal’s Loud Lesson on Tax Cuts
A century ago, the federal government ran surpluses under lower tax rates. But that’s impossible with our out-of-control spending.
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Bigger Isn’t Better: A Case for Downsizing the Federal Reserve
Does the Fed need 24,000 employees? A leaner, more automated institution could reduce costs and improve transparency.
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Can Immigration Address America’s Fiscal Nightmare? It Depends
High-skilled workers tend to strengthen government budgets, while low-skilled immigration can add fiscal pressure. The composition of immigration matters as much as the number.
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Warsh: The Fed Helped Create Fiscal Dominance
Federal Reserve chair nominee Kevin Warsh argues the Fed has drifted far beyond its mandate, becoming a “general-purpose agency of government.”
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But What About China? A Response to Tariff Advocates
Erratic tariff policy is alienating our allies, weakening exactly the coalition we’d need to address Beijing’s behavior.
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Soundness, Trust, and the Real Case Against Fiat Money
The strongest objections to fiat money are moral and institutional, not legal. Inflating a currency erodes trust over time, but it isn’t counterfeiting.
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•
Congress Is Moving the Goalposts on Fiscal Responsibility
Is targeting three percent of GDP a turning point, or another empty promise?
-
•
Is Silicon Valley Shifting Right, Or Just Toward Power?
The tech industry’s growing dependence on government contracts and its fear of a ‘billionaire’ tax are reshaping political terrain.
-
•
April Fools for America First? Higher Prices and New War
The President returned to office on promises to lower costs at home and restore our reputation abroad. Americans got the opposite.
-
•
Could a Rule-Bound Fed Constrain Congressional Spending?
The Fed’s lack of clear rules makes it vulnerable to outside pressure. A commitment to price stability could force Congress to confront its own excesses.
-
•
Silent Cal’s Loud Lesson on Tax Cuts
A century ago, the federal government ran surpluses under lower tax rates. But that’s impossible with our out-of-control spending.
-
•
Bigger Isn’t Better: A Case for Downsizing the Federal Reserve
Does the Fed need 24,000 employees? A leaner, more automated institution could reduce costs and improve transparency.
-
•
Can Immigration Address America’s Fiscal Nightmare? It Depends
High-skilled workers tend to strengthen government budgets, while low-skilled immigration can add fiscal pressure. The composition of immigration matters as much as the number.
-
•
Warsh: The Fed Helped Create Fiscal Dominance
Federal Reserve chair nominee Kevin Warsh argues the Fed has drifted far beyond its mandate, becoming a “general-purpose agency of government.”
-
•
But What About China? A Response to Tariff Advocates
Erratic tariff policy is alienating our allies, weakening exactly the coalition we’d need to address Beijing’s behavior.
-
•
Soundness, Trust, and the Real Case Against Fiat Money
The strongest objections to fiat money are moral and institutional, not legal. Inflating a currency erodes trust over time, but it isn’t counterfeiting.