May 23, 2024
Vast Vote-Buying Strategy — ‘Like We Have Never Seen Before’ — Is Laid to Democrats by North Dakota’s Governor
Governor Burgum of North Dakota — a potential running mate with President Trump — is warning that, under the Biden administration, there is “vote-buying going on at a scale like we have never seen before.” Mr. Trump simplifies the charge to just “they get welfare to vote.” What’s the evidence behind those allegations? The case could start…
May 14, 2024
Understanding Trends in Worker Pay over the Past 50 years
Key Points Executive Summary Doomers on the political left and right agree that economic growth has failed to translate into higher wages for American workers, with some claiming that pay has barely risen in 50 years. Such sentiments have been buttressed by flawed analyses that, comparing apples to oranges in a variety of ways, have…
May 13, 2024
The American Dream Is Alive and Well (and the Problem of US Inequality Greatly Exaggerated)
Don’t listen to the populist naysayers: The U.S. economy continues to deliver jobs, higher wages and upward mobility for those who need it most. What do former President Trump and Bernie Sanders have in common? Or Fox News host Tucker Carlson, Nobel Prize-winning Clinton administration economist Joseph Stiglitz and billionaire investor Ray Dalio? Among many other prominent elected officials, commentators, public…
May 6, 2024
Generation Z Has Problems Compared to Past Generations, but Money Isn’t One
If you ask why these privileged college students are bringing their campuses to a halt over an issue that has almost nothing to do with their universities, the answer is likely to expand beyond Gaza into a story of a broader struggle and trauma this generation has endured. This contention, that Generation Z has grown up in a uniquely…
April 18, 2024
Put Growth Back on the Political Agenda
In a campaign season dominated by the past, a central economic topic is missing: growth. Rapid productivity growth raises living standards and incomes. Resources from those higher incomes can boost support for public goods such as national defense and education, or can reconfigure supply chains or shore up social insurance programs. A society without growth…
April 17, 2024
Fiscal Sanity Please, Senators
The Wyden-Smith tax bill, which combines an expanded child tax credit (CTC) with a variety of business tax breaks, has been in limbo in the Senate for the past three months. Majority Leader Chuck Schumer has promised to bring up the bill if there’s enough support, but so far, these votes have not been forthcoming…
April 10, 2024
The Political Landmines Buried in the Latest Jobs Report
CNN on Friday dubbed the latest monthly jobs report a “blowout,” pointing to 303,000 net new jobs created in March. President Joe Biden immediately claimed credit, saying the report “marks a milestone in America’s comeback,” as it indicates a total of “15 million jobs created since I took office.” Meanwhile, the latest data confirm that most…
April 5, 2024
What’s Wrong with the US Economy? Anything?
Economists were expecting 200,000 net new jobs added in March. Instead it was 50 percent more. Unexpected strength, but maybe not so unexpected, really, for an economy that continues to deliver surprise after surprise. It’s been a great run lately for economic optimists: real wage gains, faster labor productivity, and gobs of jobs. A tight summary…
March 7, 2024
Growing Congressional Dysfunction Will Worsen Our Fiscal Problems
Few were surprised when deposed House Speaker Kevin McCarthy (R., Calif.) retired in December. While Republican leaders tend to exit quickly after losing committee gavels or leadership posts, the additional departure of other respected senior lawmakers in both parties is damaging legislative capacity on the Hill. Congress is losing the sort of policy-making veterans it needs to craft and pass important legislation. Their reasons for leaving vary and often include Congress’s general inability to pass needed legislation. That dysfunction is evident…
February 12, 2024
Millennials Are Doing Better than You Probably Think
“Each generation is worse off than the one before.” It’s one of the primary tenets of the notion that American capitalism has failed and that we live in the final days of “late capitalism.” But have things really been all downhill since the Boomers became adults? Maybe not, according to the new study “Has Intergenerational…