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January 30, 2025

American Greatness Depends on Strong Families

President Trump signaled his commitment to making America “greater, stronger and far more exceptional than ever before” in his important Inaugural Address last week. Crucially, Trump made a personal commitment to fight for parents and their dreams for their children. Meanwhile, Vice President Vance declared at last week’s March for Life it was “the task of our government to…

January 22, 2025

How the Trump Administration Can Hit Its Growth Target

By setting an ambitious 3% growth target, US Treasury Secretary nominee Scott Bessent has provided the Trump administration a North Star to follow in devising its economic policies. The task now is to focus on productivity growth and avoiding any unforced errors that would threaten output. US Treasury Secretary nominee Scott Bessent is right to…

January 16, 2025

Should We Believe the Economic Data or Americans’ “Lyin’” Eyes? The Answer Is Yes.

Many Americans are convinced the economy is ailing and that life is financially tougher today than a decade—or a generation—ago. Social media posts wax nostalgic for a long-lost era when all single breadwinners allegedly could afford a home and two cars for a family of four. Everyone seemingly knows someone who did everything they were…

January 7, 2025

Tax Policy Should Prioritize Shoring Up the Family

During the Biden years, tax policy related to the family revolved around the child tax credit (CTC). Attempts to expand the credit to make it easier for two-parent families to have kids and rely on a sole breadwinner were thwarted by objections that a child allowance would also promote single-parent families in which no one…

December 29, 2024

Why Rent Regulation Remains So Hard to Undo in NYC

Few would argue that New York City is mired in a housing crisis — as defined by high prices and low vacancies. There’s good evidence for that conclusion. The most recent federal New York City Housing and Vacancy Survey reported a vacancy rate of just 1.4%, “a stark contrast to the 4.54 rate in 2021”.  Over the same period,…

December 20, 2024

Fixing Inflation, Right-Sizing the Federal Government

Thirty years ago next month, Federal Reserve Board Chairman Alan Greenspan testified before a joint session of the House and Senate Budget Committees with talk of deficit reduction in the air. In January 1995, Republicans had just won control of both houses for the first time in 42 years. The federal debt had reached 48…

December 17, 2024

Industrial Policy and Deficits: Dark Clouds for Democratic Capitalism

Democratic capitalism is a system that marries liberal democracy and free-market capitalism. This union creates tensions, and requires balancing competing aims. But this tension is healthy, not destructive — provided that democracy and capitalism are properly balanced, each sphere reinforces the other. Over the long term, capitalism requires liberal politics; and democracy will not maintain…

December 5, 2024

Inflation Reduction Act Offers a General Lesson against Industrial Policy

With President Trump’s stunning return to power, Congress has the opportunity in 2025 to enact additional business tax cuts. One of their specific goals should be to make “full expensing” of business investment a permanent part of the tax code. By allowing businesses to deduct the full cost of investment in the year the spending…

November 27, 2024

Finally, a Win for Working Men

Since the 1970s, working men, particularly those without college degrees, have experienced lower employment rates, increased social isolation and growing health risks. Today, we are starting to see early signs that this problem may be abating.   But lately, men have started going back to work. During most recessions, the male employment rate falls and never returns…

November 19, 2024

A Trump Boom?

Donald Trump’s stunning and decisive return to power makes it official: We live in the Age of Trump. The 2008 global financial crisis was a turning point in history, and it is now clear that Trump is the dominant political figure of the post-crisis period. Trump began his rise to power in 2015 and has…