The Fed should have been in front of this. Instead, they are far behind and must now catch up quickly. The US Bureau of Labor Statistics just released the Consumer Price Index (CPI) increase for the month of December. The 0.5% …

Regardless of what Secretary Yellen may say, increasing government deficit spending at this time, will lead to more inflation. Last year, the Federal Reserve officials said they were basing their shockingly irresponsible monetary policy on Modern Monetary Theory (MMT). …

The website says they stand for fiscal responsibility, a strong national defense, and transcending party lines. What happened? In the 1994 off-year election, the House of Representatives flipped from Democrat to Republican. After 40 years in the minority, the GOP, led by Speaker Newt Gingrich, were ready to honor their…

A 15% single-rate tax on all income above a livable minimum, would solve all of the tax policy issues. To determine what a plan to permanently fix the federal income tax code would look like, let’s first look at what the goals of income tax policy should be. The first…

Even with the gimmicks, taxing consumption is regressive. Taxing income proportionately makes the most sense and reaches the tax policy goals. The Republicans recently suggested replacing Federal income taxes with a 30% sales tax on all consumption. …

Solid GDP growth in 2022 but a recession likely in 2023. GDP growth in the fourth quarter of 2022 was just reported to be 2.9%. That’s down slightly from the 3.2% growth in the third quarter. Since growth was negative in the first two quarters of 2022, growth for the…

Despite the rhetoric, the federal government takes in about $400 billion monthly in tax revenue. The monthly interest charges are about $40 billion. Last week the public debt reached $31.4 trillion. According to the law, that is the maximum debt the federal government can incur. Although it is not a…

Raising the debt ceiling will be especially tough under current economic and political conditions. As we enter 2023, there are at least three major problems that economic policymakers will have to deal with. We have high inflation, a likely recession, and a very serious problem with the debt ceiling. …

The Chamber of Commerce is supposed to be pro-business. Since Congress came back into session, much of the focus in Republican circles has centered on whether Kevin McCarthy and other top party officials should remain in their leadership positions this year. The conservative grassroots have a right to be angry…