We already know that top inflation metrics have recently surged, and executives at companies like Costco are warning that price hikes are hurting their customers. Now, there’s a new inflation consequence hitting consumers: “Shrinkflation.” I’d never heard the term before today, but new reporting from the Washington Post explains how some companies are dealing with … Continue reading ‘Shrinkflation’: The Latest Consequence of Reckless Federal Spending, Explained
Category: Economy
On May 28, President Biden unveiled his $6 trillion budget proposal. Under his plan, government spending will rise to levels not seen since World War II. Large investments in climate change, transportation, and education headline the proposal. “Build back better” has been a common refrain of the Biden administration. The COVID-19 pandemic crashed much of the economy, … Continue reading Restarting the Economy Requires Less Government, Not More
A recent study from the Urban Reform Institute is sounding an alarm about rising inequality and decreasing upward mobility in California. In fact, the report found four of the nation’s top ten worst metro areas to live in for upward mobility for African‐Americans and Latinos are in California. Those regions include Los Angeles, Stockton, San Francisco and … Continue reading California Inequality and the Limits of Redistribution
Every summer I take a couple of vacations with my family—a short one to the Wisconsin Dells with my brothers-in-law and their families, and a longer one to a random destination with my college buddies and their families. These are some of my favorite times of the year. There’s boating and water parks. Campfires and … Continue reading Why Your Summer Vacation Is Suddenly Looking Way More Expensive
History will not remember President Biden for his frugality. The president has already signed into law a massive multi-trillion-dollar “COVID” stimulus spending package and proposed trillions more in “infrastructure” spending. Now, the White House has released its budget request for Fiscal Year 2022—a stunning $6 trillion. “President Biden will propose a $6 trillion budget on … Continue reading Here Are 3 Glaring Consequences of the $6 Trillion Budget Biden Just Proposed
The most widely-used metric for price inflation hit a 12-year high in mid-May, showing that prices had risen 4.2 percent over a year. But some argued this was just a one-off outlier, not indicative of a broader trend or serious problem stemming from runaway government spending and money-printing. Their case just got a lot weaker. … Continue reading We Just Got Even More Proof Inflation is On the Rise
Imagine if oil companies got together and agreed to charge consumers no less than $3.50 per gallon for gas. Let’s call it a “global minimum price.” How long—in minutes—do you think it would take for the news media to cry foul and for the Justice Department to file an antitrust suit? In recent days, President … Continue reading What Makes Biden and Yellen’s “Global Minimum Tax” Push So Hypocritical
We can now add NFL star Tom Brady to the long list of celebrities and athletes hopping on the cryptocurrency train. “Tampa Bay Buccaneers superstar Tom Brady revealed Thursday that he is a ‘big believer’ in the long-term prospects of cryptocurrencies,” Fox Business reports. “The seven-time Super Bowl champion told a panel that he has … Continue reading ‘Big Believer’: Tom Brady Just Came Out as a Crypto Fan
U.S. Trade Representative Katherine Tai and European Commission Executive Vice President Valdis Dombrovskis announced a deal May 17 that many are calling a “cease-fire” on the multiyear dispute over U.S. tariffs on steel and aluminum imports. The European Union was set to double retaliatory tariffs next month on several American products, including whiskey and wine, but agreed to forego … Continue reading Do Steel and Aluminum From Europe Still Threaten US National Security?
Despite lumber prices soaring to a record high of $1,670.50 per thousand board feet, and the housing market booming at a 17.2% price increase from April 2020, the U.S. Commerce Department, rather than helping, plans to impose further burdens on U.S. consumers through increased taxes on imported softwood lumber. On Friday, the Department of Commerce announced its proposal to … Continue reading Steeper Tariff on Canadian Softwood Lumber Isn’t Solution
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