News Analysis The Federal Reserve Bank of Atlanta cut its forecast for real GDP growth in the third quarter of 2021, suggesting that the United States is barely expanding and could be on the cusp of contraction. According to the Atlanta Fed’s GDPNow model, the U.S. economy is projected to grow at a seasonally adjusted…
Taxing America First
Commentary Back in early 2016, when Larry Kudlow and I suggested that then-presidential candidate Donald Trump propose a 20 percent business tax rate for U.S. companies (down from the highest in the world rate of 35 percent), he enthusiastically endorsed this “America First” policy—not because he loved corporate America but because he realized that as…
Fossil Fuels Are Back—Everywhere Except in the USA
Commentary While the greens in America, including their champion zealot, President Joe Biden, howl their primal screams over climate change, the rest of the world is turning to coal. The dark stuff. The satanic fuel. But it’s back big-time across the globe. So is old-fashioned petroleum. Bloomberg reported last week that because of high natural…
America Is Still Working
Commentary The Census Bureau has just issued its latest annual report, “Income and Poverty in the United States: 2020,” and American Enterprise Institute economist and blogger Mark Perry has extracted and summarized its highlights, as he does every year. Perry’s work is always illuminating because the data shows how much healthier the country is socially…
Congress Is Back to Serving Pork
Commentary Pork is being served in Washington again. Big juicy slices to the lobbyists with the deepest wallets and the campaign contributors who write the biggest campaign reelection checks. It is the way of the swamp. It is the currency of the Washington Beltway. It explains how people get so rich in politics. The two…
Americans Should Be Working Hard, Not Hardly Working
Commentary The Labor Department reported this week that there are now a record 10.9 million jobs open in America. That’s twice the size of the entire Ohio workforce. Yet the department also has counted some 8 million unemployed Americans. What in the world is going on here? Why aren’t the 8 million workers allegedly looking…
Goldman Sachs Lowers US Growth Forecast Amid COVID-19 Delta Variant And Fading Fiscal Support
September 7, 2021
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Economists at Goldman Sachs Group Inc. have lowered their forecast for growth in the U.S. economy this year for a second time, citing the COVID-19 Delta variant and dwindling fiscal support and pointing to a “harder path” ahead for the American consumer than previously anticipated. In a report to clients on Monday, economist Ronnie Walker wrote…
If We Soak the Rich, Will Everyone Get Wet?
Commentary President Joe Biden describes his $3.5 trillion spending scheme as a way to improve the economy and “build back better.” The intention is a good one, but at its core, this plan isn’t so much about growing people’s wealth as it is redistributing it. The goal is to make the economy not more prosperous…
China Cancels Christmas for Americans
Commentary Quick, someone call Santa. Christmas in America has been called off this year. Supply-chain disruptions in Asia mean no toys for the tots in December. At least that’s what Vice President Kamala Harris suggested on her trip to Southeast Asia, and she is right. Shelves across America were bare earlier this year, and they…
End the Real Estate Racket
Commentary The housing market is hot, hot, hot right now, and home prices continue to soar in many markets to their highest prices ever. Since it doesn’t cost a real estate agent ten times as much to sell a million dollar home than a $100,000 home, one would expect that the percentage fees for real…
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