Reaganomics 2018 in rural America on December 25, 2017The Republican establishment – plus one populist president – are betting the nation’s economic fortunes and their party’s chances of holding on to power can be greatly enhanced by some good old-fashioned supply-side economics. Cutting taxes and deregulation worked for President Reagan – an economic boom that accomplished 3.9 percent growth and lasted more than […]
A tax cut America can afford on December 11, 2017Republican congressional leaders appear likely to pass tax reforms and cuts that the country needs and can afford – but whose benefits Democrats can hardly bear to face. Democrats believe boosting welfare – free health care, subsidized housing and food stamps for able-bodied adults who refuse to work – is the road to growth. Republicans […]
Why Trump’s bull market is not done yet on October 30, 2017Stock prices may be hitting new records, but this is no time to sell. In recent decades, the U.S. economy and corporate sectors have undergone wrenching changes – Big Tech and energy, not the Big Three and finance, now drive progress – but America has emerged stronger and on the cusp of a new prosperity. […]
Trumps taxing problems on April 24, 2017Donald Trump won the presidency in significant measure on a promise to deliver more robust growth and better jobs. As things stand, his efforts and GOP prospects for the midterm elections will importantly hinge on accomplishing tax reforms that encourage more investment. Stronger growth could be greatly assisted by reducing health care costs, regulatory burdens […]
Republican budget woes on April 3, 2017President Trump and Republicans in Congress have a once in a generation opportunity to dramatically roll back the frontiers of government but will likely fall short because of their lack of candor and finesse. Steven Bannon’s “deconstructing the administrative state” is great for rallying troops in an electoral campaign but terrible politics when translated into […]
When the Federal Reserve raises interest rates on March 27, 2017The Federal Reserve appears intent on raising interest rates at a quicker pace over the next two years. Higher oil prices are pushing annual consumer price inflation close to the Fed’s 2 percent goal, and labor markets are tightening. It wants to moderate the pace of recovery before the economy overheats. After keeping the benchmark […]
Beyond the art of the individual deal on February 6, 2017President Trump can’t simply bully large corporations to deliver prosperity for the millions who elected him. Although the succession of recently announced deals to keep or create jobs in America is impressive – United Technologies, Fiat Chrysler and others have jumped on board – the challenge of boosting growth is too large to be accomplished […]
The 45 percent tariff on January 30, 2017President Trump’s proposed 45 percent tariff on Chinese imports could leverage significant changes in trade with the Middle Kingdom, but to succeed he must address Beijing more realistically than past presidents. Since Richard Nixon’s historic trip, U.S. policy has been premised on the notion that offering China wider access to American markets and cooperation in […]
The measure of Trumps presidency on January 2, 2017Donald Trump must scale huge barriers to accomplish 3 to 4 percent economic growth. Sweeping measures must be implemented, and that will prove no mean task. George W. Bush slashed personal income taxes without fundamentally altering corporate incentives to create tax dodges and offshore production. Barack Obama expanded entitlements – partially financed with higher taxes […]
Trumps nationalism will preserve international stability on December 4, 2016Economists and foreign policy experts fear Donald Trump’s economic nationalism will disrupt the global institutions that have fostered international economic cooperation and security for seven decades and instigate chaos. Fortunately for unlettered folk, Mr. Trump’s got it right and the experts are wrong. Recognizing high tariffs and currency manipulation exacerbated the Great Depression and contributed […]