The hidden tax of inflation prevents people from getting out of poverty. Inflation isn’t just an inconvenience; it’s a huge obstacle to prosperity for the vulnerable and low-income. And even if Congress and the Fed have good intentions, their next steps could make the current bad situation worse. The latest inflation data from the consumer...
Prices are rising at the fastest pace in 30 years, according to Wednesday’s report by the U.S. Bureau of Labor Statistics (BLS) on the consumer price index for October. The report showed a rapid 6.2% increase over the last 12 months, a pace which, if continued, would see prices double in fewer than 12 years....
The October job report showed solid growth in the U.S. labor market, with 531,000 nonfarm jobs added last month, but earnings increases are not keeping up with inflation. The unemployment rate fell 0.2 percentage points to 4.6%, but the labor force participation rate remained at 61.6%, the same rate as a year ago, and well...
House Speaker Nancy Pelosi set Halloween as the deadline for passing multiple reckless budget increases. The latest new framework announced recently by President Biden has a claimed cost of $1.75 trillion ($1.85 trillion when you include $100 billion for “immigration”). That number may sound frightful, but the monster under the mask is ghastlier—the real figure...
Gas prices in many parts of the country today look like high GPA numbers. People are angry that a gallon of gas costs more dollars than they have cylinders in their car. Do not expect any answers from the White House, however; “I don’t have a near-term answer,” said President Joe Biden at a recent...
Like a young, beautiful, intelligent woman depressed by an altogether unattractive dating pool of men around her, Lady Columbia should be lowering her expectations with President Biden at the helm. Not only have three separate op-eds in the Washington Post made that case, but now even the White House has as well. Empty store shelves and never-ending coronavirus...
Have monetary scientists solved the mysteries of alchemy? While the ancient alchemists sought (and failed) to turn lead into gold—the currency of the day—their modern counterparts have done something far more incredible: creating money from debt. But just as King Midas’ touch proved less a blessing than a curse, so too is this modern marvel....
A trip to the grocery store, gas station, or just about anywhere else is guaranteed to give you a bad case of sticker shock these days. Prices just keep going up, and there’s no end in sight to this inflationary wave. If a household’s budget was tight at the start of the year, it is...
September’s job report was a severe disappointment, with only 194,000 nonfarm jobs added last month, less than half of expectations, and the smallest gain for the year. The unemployment rate fell 0.4 percentage points to 4.8%, in part because of people leaving the labor force, as evidenced by the labor force participation rate dropping to...
If you have bought just about anything lately—from food and gasoline to cars and even houses—you know prices just keep climbing. People are running out of cash. There seems to be less and less left over at the end of every month as prices continue rising faster than wages. Put simply, a household’s money is...
Marriage is already tough enough; fewer and fewer Americans are even attempting it, and while divorce rates are down slightly, that may only be a temporary side effect of the pandemic. Yet the evidence is clear—marriage is the not-so-secret ingredient for success in life, for men, women and especially for children. But marriage is about...
America is back at the brink—Congress has borrowed as much as it can legally, and House Speaker Nancy Pelosi says if it doesn’t raise the debt ceiling, the U.S. will be forced into default. But the truth is that the full faith and credit of the U.S. is at stake because of excessive spending in...