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Unemployable A growing number of Americans aren’t simply out of a job. They’re no longer fit for work. / Read here America’s Debt Emergency
Data in a new CBO report give cause for alarm about our fiscal future. / Read here
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 Brian Riedl disputes claims that uncapping the Social Security tax would deliver a fairer or more solvent social safety net. “It’s an Empty Executive Suite” An insider explains what has gone disastrously wrong with Boeing. / Read here A Generational Calculus More Gen Zers are opting to live with their parents to cut costs—a choice that makes individual financial sense but may bring negative effects more broadly. / Read here McKinsey’s Diversity Fog The consulting giant touts its studies purporting to show that race- and gender-conscious hiring leads to greater profits—but it likely has the causation backward. / Read here Reel in the Agencies Even if the Supreme Court proves unwilling to repeal its Chevron doctrine, it should reverse a rule crippling private fisheries. / Read here Inflation Figures and the Real World Why the official numbers might not reflect the cost-of-living increases we feel when we pay our bills / Read here Modernity’s Launching Pad Intellectual ferment and openness to ideas—good and bad—made Vienna a focal point for social and historical change. / Read here Ready for Freedom? A new book proposes reestablishing responsible and accountable authority. / Read here The Wrong Tool for the Job Hiking the minimum wage will neither enhance economic mobility nor alleviate poverty. / Read here The Fast Casual Society Our abandonment of standards of dress means the loss of expressive potential and our sense of occasion. / Read here  
Obamacare and other government schemes have proved costly and ineffective.
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America has racked up more inflation-adjusted deficit spending since 2009 than in the 220 years before then—with no end in sight.
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Governor Kathy Hochul and Mayor Eric Adams should use their upcoming executive budgets to reverse a long slide into economic irrelevance.
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National Conservatives hoped to rebuild the Republican Party on a platform that was economically liberal and socially conservative. It didn't work.
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The portrayal of women in Love’s Labour’s Lost has many valuable lessons for the Old and New Right. READ MORE › As debate continues to rage over the future of US-China trade relations, Neena Shenai offers insight into the different tools at the United States’ disposal for securing strong leverage against the Chinese economy. Shenai looks beyond short-term measures, such as sanctions and investment restrictions, as the best ways of combating Chinese global influence. Instead, she suggests that a return to free-market values and a commitment to getting America’s political and economic house in order could be the key to the US maintaining its position as the global economic powerhouse it has proven itself to be. One short-term measure gaining significant traction is an increase in industrial policy, a stance that former President Donald Trump articulated in his recent proposal to enact a 10 percent tariff on all foreign imports. Kyle Pomerleau takes a look at this proposal and discusses why it is rooted in a misunderstanding of how tariffs affect trade. Fewer imports would lead to fewer exports, leaving the US with lower economic output. At the core of these trade discussions lies the question of how much China’s ongoing economic turmoil will affect the global economy. Desmond Lachman writes that any belief that China’s woes will not affect other nations is naïve. In particular, Lachman argues that Jerome Powell and the Fed must recognize that China’s economic crisis will most definitely harm the global market. Phil Gramm and Mike Solon discuss the problems inherent in Social Security’s pay-as-you-go system, writing that without the allocation of private investments and the power of compound interest, Social Security is doomed to fail.
James Capretta and Jack Rowing dive into the nuts and bolts of a recent medium-sized health care bill that the House passed with remarkable bipartisan support. While the bill makes various changes to health care spending, Capretta and Rowing suggest its overall impact will be minimal at best.
Turkey's Islamist Rulers Expand Their Influence Operations in U.S.
by Abdullah Bozkurt Nordic Monitor August 3, 2023 https://www.meforum.org/64660/turkey-islamist-rulers-expand-their-influence
10 Health Care Ideas for No One in Particular
James C. Capretta | RealClearPolicy With the Republican primary in full swing, James Capretta describes what a better agenda for health policy—one focused on driving costs down and promoting consumer choice—would look like. Read more.
Reading Publius in his proper historical context allows us to understand both his strengths and his limitations.
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The change and disruption over recent decades may suggest the rise of a new political order. But not everything is as new as it seems.
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By ceding literature, the arts, and culture to the left, conservatives lost the ability to influence society's moral vision.
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The Road to Israel-Saudi Normalization Runs Through Washington
Richard Goldberg – MosaicSaudi Arabia’s crown prince reportedly told senior U.S. officials earlier this month that he is prepared to normalize the kingdom’s relations with Israel as part of a broader reset in relations between Riyadh and Washington. Read More
DiSalvo and Jordan McGillis dive deep into the facts and figures underlying the ballooning pension obligations for our country’s superstar cities.
Uncertainty and Inflation
By Allison SchragerPolicymakers take comfort that longer term inflation expectations still hover around 2%. That seems to suggest that eventually the pre-pandemic low inflation/low interest rate world will soon return and the Fed still has the credibility it needs to conduct monetary policy. READ HERE
The Fed should heed the IMF’s credit-crunch warning before throwing us into a hard economic landing
Judging by its latest World Economic Report, the International Monetary Fund is well aware of credit-cycle risks.
It’s Time for a New Nuclear Posture Review by Robert Peters
Stress Testing American Grand Strategy II: Critical Assumptions and Great-Power Rivalry
Hal Brands, Peter D. Feaver, and William Inboden | American Enterprise Institute
Medicare And Social Security: Tackle Them Now
by David R. Henderson via Defining Ideas The budget crunch is real. Fortunately, there are also real ways to master it.
Budget deficits continue to soar in Washington as the President proposes yet another tax increase. As a reminder, the Treasury Department has projected that the government will breach the debt limit around the third quarter of this year. In his latest for National Review, MI’s Brian Riedl notes that eye-watering deficits no longer generate much fanfare. He explores the implications of the latest CBO projections, including their impact on funding for Medicare and Social Security.
Issue Brief: Supply-Side Solutions to Boost Growth and Lower Inflation
Allison Schrager & Brian Riedl, Manhattan Institute
Hemorrhaging Losses, the Fed’s Problems Are Now the Taxpayer’s
Paul H. Kupiec and Alex J. Pollock | Hill The Federal Reserve is technically insolvent, yet due to taxpayer support, it will still issue billions in new interest-bearing liabilities. Paul H. Kupiec and Alex J. Pollock write that this deceptive tactic allows the Fed, without congressional authorization, to borrow taxpayer money to cover its losses without the borrowing or losses showing on the federal government’s ledgers. They recommend that this issue, among others, be addressed in the Fed’s next congressional appearance.
Capretta explains how both parties’ budgetary strategies are unrealistic and overlook the severity of the nation’s fiscal outlook.
Capretta and David N. Bernstein outline four additional changes to the existing price transparency rules issued by the Centers for Medicare & Medicaid Services to improve incentives for consumers to shop for services based on price.
Signs of Geopolitical Sanity at National Review
By Francis P. Sempa, RealClearDefense: “Ever since William F. Buckley, Jr. and his immediate successor John O’Sullivan left the helm at National Review, the once leading journal of conservatism has lost its way, especially in its coverage of foreign policy issues and its reflexive anti-Trumpism. Under editor Rich Lowry’s leadership, National Review . . ."
James L. Buckley at 100
Matthew Continetti | National Review On March 9, one of the few people to have served in high positions in all three branches of the federal government will celebrate his 100th birthday. Full Story
Clausewitz’s Analysis Resonates to This Day
By Alexander S. Burns, The National Interest: “A recently translated text by Clausewitz coincidentally describes an eighteenth-century Russian war in Ukraine and Crimea, which can impart lessons for contemporary students of strategy."
If China’s Push on Somaliland Works, Who Might Be Beijing’s Next Target?
Michael Rubin | 19fortyfive.com The China Consensus: Do Almost Nothing Derek Scissors | AEIdeas A More Hawkish China Policy? Five Takeaways from the House Committee’s Inaugural Hearing on Confronting Beijing Michael Beckley | Conversation
“Surging” hiring has not resulted in a resurgence of working-age men returning to the workforce. Companies continue to struggle filling empty roles, creating a “major hole” in the economy.
Americans and Brits alike should be careful not to learn the wrong lessons from the Truss premiership.
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Anarchy, American-Style
by Victor Davis Hanson via American GreatnessThe Left runs Oceania, and we work for their various bureaus.
Reinvigorating America’s Commercial Republic
by Peter Berkowitz via Real Clear Politics The left once possessed a near-monopoly on the critique of economic freedom. The bourgeoisie exploited the proletariat, according to Karl Marx’s classic condemnation, and the profit motive degraded property owners even as labor produced little for the laborer but physical misery and spiritual alienation.
To fully appreciate the controversy over Chevron, one must confront the dubious constitutional status of the administrative state.
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We Will Regret Our Missed Opportunities to Reform Social Security
Why Entitlement Reform Is So Hard
What Went Wrong in Britain
by daniel patterson Americans and Brits alike should be careful not to learn the wrong lessons from the Truss premiership. READ MORE ›
We Will Regret Our Missed Opportunities to Reform Social Security
Andrew G. Biggs | National Review More modest fixes to Social Security in the past would have brought the program to solvency. Now extreme, uncomfortable action is a virtual certainty.
MI’s Chris Pope provides insight into the country’s five co-operating healthcare systems. Steps to aligning these systems, such as breaking down barriers between individual- and employer-sponsored coverage, would empower consumers while managing costs.
Are income stagnation and inequality serious threats to economic prosperity in the US? Michael R. Strain debunks this popular myth and explains how recent data prove wages and incomes have grown over the past several decades.
Desmond Lachman warns that although an economic slowdown in China may lower the United States’ inflation rate, there’s a good chance that it will also push the global economy toward a serious economic recession.
James Pethokoukis considers potential trends for worldwide economic growth and what the United States must do to keep up as the tricentennial of American independence approaches.
Lachman explains why the Biden administration’s irresponsible fiscal policy, paired with a few monetary policy missteps by the Federal Reserve, has gotten the US economy into deep trouble.
Price Transparency 2.0: Helping Patients Identify and Select Providers of High-Value Medical Services
In a new AEI Economic Perspectives report, James C. Capretta and David N. Bernstein envision how policymakers can translate "bipartisan support for transparent health care prices into savings for patients and taxpayers." Capretta and Bernstein argue that recent federal price transparency rules need further reform to support consumer choice in the health care market. They outline a number of possible reforms, including universal access to posted prices and standardizing bundles of health care services. "Patients can become the driving force behind less expensive medical care," the coauthors conclude, "if the market is structured to allow them to easily identify low-cost and high-quality care based on credible pricing and outcome data."
Star Power: What the Stunning Nuclear-Fusion Breakthrough Really Means
James Pethokoukis | Faster, Please!
Labor’s Lost
In America today, we have informal labor cartels for the college-educated elite, while private sector unions for the working class are all but annihilated BY MICHAEL LIND What Can Be Done to Make Health Care More Efficient? James C. Capretta | Dispatch Excellent medical care is common in the US, but it is provided amid all-too-evident dysfunction. The fundamental problem is the absence of discipline and accountability. James C. Capretta outlines several reforms that would make the American health care system far more efficient. Full Story If You Think the Deficit Is Bad Now, It Will Soon Get Worse
Mark J. Warshawsky | Hill In July, the Congressional Budget Office (CBO) projected that the federal government budget deficit would be 3.7 percent of gross domestic product (GDP) in 2023. The author's rough calculation is that the 2023 deficit will come in at 6.4 percent of GDP, or nearly 70 percent higher than the CBO projection.
Restoring The Fed’s Credibility?
by andrew stuattaford Paul Volcker would have been appalled by the Fed's complacent reaction to growing inflation last year, a blunder that damaged the bank's credibility. READ MORE
The Federal Reserve's Operating Losses and the Federal Budget Deficit
With the Federal Reserve on track to record operating losses for the first time since 1915, Paul H. Kupiec and Alex J. Pollock anticipate what those losses will mean for the federal deficit. "The economic reality, of course, is that Fed losses increase the government's deficit," write Kupiec and Pollock, but they also explain why the Federal Reserve's unique privileges make these losses harder to measure.
Rajan Underlines Why Even Growth Needs A Liberal Democracy
New Book On The Fed And Recent Monetary Policy  ANDREY MIR How the Media Polarized Us The shift from ad revenue to the pursuit of digital subscriptions has turned journalism into post-journalism. Recent histories of America's two political parties show what it takes to win a governing majority. READ MORE › A strategy of détente with Russia and China would buy the United States time to rebuild its technological and military capabilities. READ MORE › Empire Imagined
Giselle Donnelly | State University of New York Press Empire Imagined, Giselle Donnelly’s upcoming book, offers a unique perspective for understanding the current debate about America’s role in the world. Reviewing the history of the Elizabethan age and its ties to the American colonial experience, Donnelly traces the origins of the United States’s distinct approach to war and military power.
The pseudonymous "Paracelsus" argues that America's medical system is profoundly and perhaps irretrievably broken.
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The Establishment Clause has long been used to systematically secularize American society. Those days appear to be over.
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AN ECONOMIC AGENDA FOR THE NEXT PRESIDENT
AMERICA'S COMPARATIVE ADVANTAGE
Peter Berkowitz: America A Commercial Republic
HENRY OLSON: POLITICAL DEMOGRAPHY
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