The Presidential Solution to Taming the Growing Federal Debt
Only presidential power can tame America's massive federal debt.
If compound interest is the most powerful force in the universe, America is on the wrong side of it. At more than $36 trillion, the federal debt is high and growing faster than we can afford.
Interest alone will cost $1.2 trillion this year, adding substantially more to the debt. Unaddressed, this escalating debt spiral threatens both the financial system and basic government services that millions of Americans rely on.
The crisis stems from congressional incentives, which are no longer balanced by healthy checks from other branches.
Currently, congressional incentives are all geared for immediate local spending and not for long-term national health. Representatives are elected to represent local constituents, not national interest. With hundreds of lawmakers involved, no one can be held accountable for spending. And their short, two-year terms encourage immediate spending over long-term sustainability. Their incentives virtually guarantee budget failure.
Economic Dynamism
.jpg)
London and the Architecture of Creative Growth
Preserving London's creative dynamism will require humility from policymakers and a commitment to keeping the city liveable.
Do Dynamic Societies Leave Workers Behind Economically?
We need a more dynamic economy that can help workers by allowing them to move where they can best use their skills.
.jpg)
Downtowns are dying, but we know how to save them
Even those who yearn to visit or live in a walkable, dense neighborhood are not going to flock to a place surrounded by a grim urban dystopia.
.jpeg)
.jpg)
The Trump Administration’s Venture Capitalist State
Some companies will succeed, and others will fail – but their outcome will be determined by the consumers, not by Washington.
Adam Smith’s The Wealth of Nations Turns 250
"On the Nature and Causes of the Wealth of Nations" was published this month in 1776.
