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Blog

Democrats' Plans for More Spending Could Mean a Lost Decade for America

House and Senate Democrats are preparing to release another very costly legislative response to COVID-19. No cost estimate is available quite yet, but we know that it’s likely to rival the $2.3 trillion cost of the Phase III bill, the CARES Act, which passed Congress in March. Although all the details of the Democrats’ legislation haven’t been released, it will likely include $1 trillion in funding for state and local governments, bailouts for pension funds and the U.S. Postal Service, expansion of food stamps and the earned income tax credit, universal basic income, and an “essential worker bill of rights.”

05/08/2020
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Blog

Let This Crisis Be Different

Some of the largest expansions of government power and unconstitutional abuses have come during times of pressing crises, not unlike the coronavirus. The government routinely tries to paper over these abuses by saying they are temporary, and that anyone who resists is guilty of making the present crisis worse. It’s the same story over and over again.

04/16/2020
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Blog

Don't Bring Back Glass-Steagall

An issue that has a tendency to come into the public consciousness from time to time is bringing back Glass-Steagall. Initially repealed in 1999 by the Financial Services Modernization Act, primarily known as the Gramm–Leach–Bliley Act, the law that separated commercial and investment banking has received renewed support with both party platforms during last year’s presidential election calling for it to be reinstated.

07/31/2017
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Blog

The New Smoot-Hawley: Protectionism Is Bad for American Businesses, Workers, and Consumers

In 1930, Congress passed the Tariff Act introduced by Sen. Reed Smoot (R-Utah) and Rep. Willis Hawley (R-Ore.). The bill raised tariffs -- or taxes paid on imports into the United States -- on more than 20,000 imported goods. Against the advice of more than 1,000 economists, President Herbert Hoover signed Smoot-Hawley into law.

04/05/2016
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Blog

Sorry, Bernie Sanders, FDR's New Deal Actually Prolonged the Great Depression

Senator Bernie Sanders (I-Vt.) gave a highly anticipated speech at Georgetown University on Thursday, where he extolled socialism. The Democratic presidential candidate, whose proposed an estimated $18 trillion in new spending over the next decade, invoked President Franklin D. Roosevelt and the New Deal in his effort to sell his message to college students.

11/20/2015
And God Made a “Taxpayer Subsidized” Farmer
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Blog

And God Made a “Taxpayer Subsidized” Farmer

Americans involved in agriculture are no longer the tenant farmers and sharecroppers of days past. I’ve yet to hear of a “disaster harvest” which forces the sale of the family cow. Banks are not repossessing their land, and the range wars between farmers and ranchers have long ended.

04/02/2013
Debunking Myths of the Great Depression
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Issue Analysis

Debunking Myths of the Great Depression

[Click here to see a PDF version of this Issue Analysis].

04/17/2012