There’s new evidence government-imposed shutdowns prompted by the COVID-19 pandemic have done more harm than good. Instead, a better choice is keeping the economy open so people stay connected to work and targeting resources to vulnerable populations. A new meta-analysis from Johns Hopkins University underscores this finding, revealing that lockdowns in America and Europe during...
Even though Sen. Joe Manchin says the Build Back Better Act is “dead,” we all know that spending plans in the D.C. swamp have a disturbing tendency to rise from the grave. There’s already speculation (on CNN and elsewhere) about what a new big-government spending bill will contain. But with the national debt recently surpassing...
Government spending is at the heart of sound public policy. But out-of-control spending for decades has created substantial economic destruction and ongoing threats that must be remedied before things get worse. Fortunately, we have examples of how fiscal rules can solve this problem. We must put these rules into place before our economy gets any...
Texas continues to recover from the shutdown recession of 2020. The state has made strong progress toward a full recovery, especially compared to other states. But it has much room for improvement by many metrics before we’ll see the robust pre-shutdown prosperity. In February 2020, Texas had low unemployment and relatively high labor force participation....
Introduction Alaska’s economy and Alaskans’ livelihoods were hit particularly hard by the government shutdowns associated with the COVID-19 pandemic, and Alaskans are struggling to recover. But businesses are now open, employment is slowly improving, and oil prices are up, which has resulted in the state’s Department of Revenue substantially increasing its revenue forecast by $2.2...
“May you live in interesting times,” goes an old saying—usually meant as a curse. When it comes to economics, “interesting” usually means the sky is falling. Inflation reached 7% at the end of 2021, a rate not seen in 40 years. The Federal Reserve’s balance sheet more than doubled to $8.8 trillion since early 2020....
We were promised job growth—after all, that was the main selling point for the March 2021 American Rescue Plan Act (ARPA) from President Biden and the congressional Democrats. Promise made—promise broken. In February 2021, the Congressional Budget Office (CBO) issued its economic outlook and projected 6.252 million jobs would be added in 2021 without ARPA....
Twenty-one states rung in the New Year by raising their minimum wage, to as high as $15 per hour in California, thinking it will benefit employees in those states. But the minimum wage does the opposite of helping workers, especially for those who need it. Fortunately, 20 states, including Texas, haven’t raised theirs in more...
What’s the answer to poverty? I believe it’s opportunity—and hope. I grew up in South Houston, Texas, an urban area of Houston in the 1980s and ‘90s. I lived in a lower-income, single-mother, two-child household. My mostly absent father was on disability due to epilepsy. I had opportunities to attend private school, public school, and...
The Texas Model of relatively less spending, no personal income tax, and sensible regulation continues to support improved economic freedom with more opportunities to flourish. But there’s room for improvement for the state recently ranked as the fourth most free nationwide. Canada’s Fraser Institute recently released the Economic Freedom of North America 2021 report that...
Fear and uncertainty over the pandemic are rising again as the first U.S. case of the Omicron variant of COVID-19 was found in a patient in California and has been spreading across the nation. But let’s not panic and jump to solutions. While this could contribute to the second consecutive winter wave, our new research...
Americans are being crushed by the highest inflation in 39 years. An entire generation has never seen prices rise this fast and they’re feeling the pain in their wallet. But the Build Back Better Act (BBBA) passed by the U.S. House of Representatives will only compound this pain with new spending, taxes, and debt. Americans...