It’s official—we’re in a recession. And have been all year. The government reported today that there were two consecutive quarters of declining inflation-adjusted economic output to start 2022, a condition that has been called a recession every time since 1950. And inflation is running at a 40-year high. Americans are struggling in the Biden economy....
Florida Gov. Ron DeSantis recently responded to questions about California Gov. Gavin Newsom’s ads airing in Florida, “It’s almost hard to drive people out of a place like California given all their natural advantages, and yet they are finding a way to do it.” He noted that California is hemorrhaging its population because of bad progressive...
On July 15, Austin City Manager Spencer Cronk laid out a proposed $5 billion city budget for fiscal year 2023. While introducing the mammoth 971-page document, Cronk said: “We are always mindful of our impact on the pocketbooks of Austinites. At the same time, we firmly believe that effective city government is critical to the...
Only a bolt of lightning or a dose of radiation can awaken zombies in the movies; the same isn’t true for an economic zombie. In the latter’s case, it took many years—especially the last two years—of deficit-spending fueling excessive money printing to get this day of reckoning for the U.S. economy with frequent mentions of...
As most of the country struggles with the effects of stagflation and is either in or will soon be in a recession, Texas has been an economic leader. The Texas Model of economic freedom with the strongest state spending limit in the nation, no personal income tax, sensible regulations, and a relatively low cost of...
“We’ve had two quarters: 1.5% decline in GDP, that’s actually done the first quarter, and this quarter now is estimated by the Atlanta Fed as being very, very close to zero,” economist Art Laffer told Fox Business. “If it comes in negative, that will be the two quarters in a row—that would be the definition of recession.”...
When did it all start to go wrong? In the early 20th Century, Americans fighting poverty not only lost sight of the goal—lifting families up—but even of the problem itself, and instead sought to remake society through government intervention, often at the expense of the very people they were meant to help. In 1920, Owen...
High property taxes are not just an urban and suburban problem. In rural Hays County (San Marcos and surrounding), for example, property appraisals are shooting up. “The overall market value of Hays County’s 2022 preliminary appraisal roll rose to nearly $59 billion, up 53.27% from $38.4 billion in 2021,” the Hays Free Press reports. “Commercial...
Top Stat: Average hourly earnings (inflation-adjusted) down by 2.6% over last year. Link Key Point: Total nonfarm employment down 1.2 million jobs since February 2020. Link Overview: The economic costs of the shutdown recession from February to April 2020 and subsequent policy errors have been persistent and substantial across the nation. The U.S. labor market has...
Texas is a leader in the economic recovery from the severe spring 2020 shutdown recession. Texans have overcome many challenges especially since the state was fully opened in March 2021, without statewide mask, closure, or vaccine mandates since then—as these should be voluntary. The 87th Texas Legislature supported the recovery with the passage of many...
Did you know there’s a state park in Arkansas where you can search for diamonds—real diamonds? And you get to keep what you find. In April, Adam Hardin was visiting Crater of Diamonds State Park and came across a 2.38 carat stone—the largest found so far this year. Diamonds can be found in the 37-acre...
The shutdown recession from February to April 2020 was devastating, and the costly effects of the policy errors since then have been large and long-lasting. There must be a return to the dignity and permanent value of work instead of dependency on government from Washington’s big-government agenda and mandates related to COVID-19. The U.S. labor...