Fast on the heels of signing a bloated $1.9 trillion spending package, President Joe Biden has introduced yet another gigantic spending plan. While the administration’s messaging focuses on broadly popular themes such as “jobs” and “infrastructure,” the details of the plan show that it would be a destructive power grab for Washington. Here are just some of the problems with the … Continue reading 9 Things You Need to Know About Biden’s ‘Infrastructure’ Spending Plan
Category: Economy
Early in 2007, after winning a second six-year term as president, Hugo Chávez announced his plan to nationalize Venezuela’s largest telecommunications company, CANTV, hinting at wider nationalization plans to come. “All that was privatized, let it be nationalized,” announced Chávez, who had run under the banner of democratic socialism. Nearly a decade and a half … Continue reading Bloomberg: Venezuela Turns to Privatization After Being Bankrupted by Socialism
After more than a quarter century at the helm of one of the world’s most valuable companies, Jeff Bezos announced this month that he will soon step down as the CEO of Amazon. The mark Bezos and his company have left on consumers, small businesses, and the entire global marketplace cannot be overstated: he helped … Continue reading Why Jeff Bezos’s Consumer Revolution Is a True American Success Story
Bitcoin hit another milestone as its total value surged to over $1 trillion for the first time ever. This move comes on the heels of a major rally which has seen the asset grow over 360% in just the past 4 months. The price of bitcoin now stands at $55,000 and looks poised to rise … Continue reading Bitcoin Hits $1 Trillion Market Cap. What That Means for the Future of Money
With COVID-19 ravaging the country and government pandemic lockdowns devastating our economy, the national debt has understandably slipped to the back of many Americans’ minds. But the federal government continues to fall deeper into the red at a dramatically accelerating rate. Free-market economists interviewed by FEE warned that we can’t continue like this forever without … Continue reading Economists Warn We Can’t Keep Ignoring the National Debt Forever
The global semiconductor shortage roiling the U.S. automotive industry has become the latest pandemic‐induced supply chain disruption embraced by economic nationalists to justify their preferred trade and industrial policies — policies that would renationalize global supply chains and supposedly improve America’s economic “resilience” during future emergencies. President Biden is also reportedly considering an executive action to address … Continue reading The Global Chip Shortage Doesn’t Demand Supply Chain Nationalism
Uncle Sam hit a budget deficit of $163 billion in January, a record high for the month and a $130 billion hike from the deficit in the same month last year. This does not bear well for America’s fiscal health. Not only that, but for the first four months of the 2021 fiscal year, the budget shortfall … Continue reading We Can’t Just Focus on Public Health. Fiscal Health Is Also Vital to Our Nation’s Future.
The New York Times [ Feb. 11] provided an in-depth look at the Biden White House's plans to "transform the economy" through "dramatic interventions to revive U.S. manufacturing" - heavy on economic nationalism, industrial planning, and manufacturing jobs. If that approach sounds familiar, it should: it's essentially the same gameplan that Biden's predecessor used, with the only major … Continue reading Will Biden Repeat Trump’s Automotive Mistakes?
President Biden has abandoned bipartisan compromise and pushed full-steam-ahead to pass his entire sweeping $1.9 trillion COVID-19 spending package. The president’s proposal includes $1,400 “stimulus” checks for more Americans, $350 billion to bail out state and local governments, a renewal of super-charged unemployment benefits through September, money for vaccine distribution, a federal $15 minimum wage, … Continue reading Economists Slam Biden Stimulus as ‘Economically Unjustified’ Plan That ‘Incentivizes Unemployment’
National conservatives have latched onto the idea that cutting immigration will increase wages despite all of the evidence to the contrary. One of the pieces of evidence they cite most is a 2016 article in the Wall Street Journal that states that wages for construction and farm occupations in Arizona went up by 10 percent and 15 percent, respectively, in the 4 years after Arizona … Continue reading Wages Did Not Rise in Arizona After SB1070
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