The Cost of Protectionism

Phil Gramm and Pat Toomey at WSJ: While manufacturing jobs declined from 32% of total employment in 1953 to 8.7% in 2015, manufacturing as a share of real gross domestic product has remained virtually constant due to increases in productivity. As Mr. Trump found when...

Fiscal Debt, Idea Deficit

Jonathan Bydlak at LegBranch.org: [As] we come out of the economic and public health hellscape of the last year, the potential for a new crisis is beginning to rear its ugly head. The haunting fiscal picture that the coronavirus has left in its wake was summarized in...

Inflation

Many posts have discussed the deficit and the debt.  Policymakers and the general public have tended to ignore these problems in recent years, in part because of low inflation and interest rates. We have not had a double-digit annual increase in the consumer price...

Reforming Reconciliation

Scott Newsome at LegBranch.org on reforming the Congressional Budget Act (CBA): First, section 310(a) of the CBA, which outlines the reconciliation process, is currently silent on the issue of whether it can be used to increase or decrease deficits. This leaves that...