Commentary Congressional Democrats are a runaway train with a drunk-on-power conductor in House Speaker Nancy Pelosi. No matter how much evidence pours in that the economy doesn’t need $1.9 trillion more in debt spending, the Pelosi locomotive keeps crashing down the track toward the financial cliff. Generations will have to pay for the joyride. One…
US Jobless Claims Tick up to 745,000 as Layoffs Remain High
WASHINGTON—The number of Americans applying for unemployment benefits edged higher last week to 745,000, a sign that many employers continue to cut jobs despite a drop in confirmed viral infections and evidence that the overall economy is improving. Thursday’s report from the Labor Department showed that jobless claims rose by 9,000 from the previous week….
Cities Have Themselves to Blame, Not COVID-19, for Sinkhole Status
Commentary The receding economic tide this past year has revealed many city officials to be naked. Oft-forgotten amid the COVID-19 chaos is that their fiscal crises predated the virus’s spread. According to Truth in Accounting (TIA), a nonprofit fiscal watchdog, 62 of the 75 largest U.S. cities were already in the red in 2019. That statistic…
US Home Prices Rise 10.1 Percent in December, Fastest Since 2014
WASHINGTON—U.S. home prices surged at the fastest pace in nearly seven years in December, fueled by low mortgage rates and Americans moving from crowded urban areas to houses in the suburbs. The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, climbed 10.1 percent in December from a year earlier. The year-end jump was the…
US Home Prices Rose 10.1 Percent in December, Fastest Since 2014
WASHINGTON—U.S. home prices surged at the fastest pace in nearly seven years in December, fueled by low mortgage rates and Americans moving to houses in the suburbs from crowded urban areas. The S&P CoreLogic Case-Shiller 20-city home price index, released on Feb. 23, climbed 10.1 percent in December from a year earlier. The year-end jump…
Biden’s American Rescue Plan Is a Stealth Step Toward Socialism
Commentary President Joe Biden’s $1.9 trillion American Rescue Plan is being framed as another must-pass bill that is necessary to fight the ravages of COVID-19. According to Biden, the American Rescue Plan would “change the course of the pandemic.” Considering the United States is vaccinating more than 1 million Americans per day and COVID-19 case counts are dropping like a…
Opinion: Biden’s American Rescue Plan Is a Stealth Step Toward Socialism
Commentary President Joe Biden’s $1.9 trillion American Rescue Plan is being framed as another must-pass bill that is necessary to fight the ravages of COVID-19. According to Biden, the American Rescue Plan would “change the course of the pandemic.” Considering the United States is vaccinating more than 1 million Americans per day and COVID-19 case counts are dropping like a…
The Myth of the Savings Glut
Commentary Many economists point to the “abnormal” rise in savings as a bullish signal that it will drive a stronger recovery and a consumption boom. The figures look impressive. In the United States, JP Morgan estimates $2 trillion in deposits, up from $1 trillion before the pandemic. In the eurozone, Bloomberg Economics estimates an excess…
Biden’s Economy Will Be a Train Wreck
Commentary Warning lights should be flashing. Less than a month in, it’s becoming evident that President Joe Biden’s economic policies are likely to end in disaster. The wrong economic diagnosis and the politics of not letting any crisis go to waste is leading to the most damaging mix of economic policy in decades. The administration…
Biden Corporate Tax Hikes Will Send Jobs Overseas
Commentary President Joe Biden has proposed $4 trillion in tax increases on American families and businesses. While Biden touts his tax hike plan as a way to ensure corporations “pay their fair share,” the proposal will harm the U.S. economy at a time that it is recovering from the Coronavirus pandemic. These tax hikes will…
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