Hoover Institution economist Joshua Rauh examines America’s mounting federal debt and the political obstacles to controlling government spending. Rauh discusses why higher taxes and faster economic growth alone cannot close the budget gap, warns that rising interest costs could lead to an inflationary crisis, and argues for slowing the growth of entitlement spending. The conversation also covers President Trump’s tariff policies, California’s proposed billionaire tax and why it has the potential to drive taxpayers out of the state, and the lessons offered by states such as Texas and Florida.
Articles
Two ballot propositions claim the state is facing funding shortfalls, but the culprit is actually out-of-control spending and deficient program oversight. What the state really needs is a thorough budget overhaul.
October 30, 2026
Articles
I recently joined Bill Whalen on the Hoover Institution’s Matters of Policy & Politics podcast to discuss a few of my favorite subjects: regulation, deregulation, and the economic consequences of government rules.
October 29, 2026
Videos
Greg Kaplan on the history of macroeconomic theory from Keynesian to Heterogeneous Agent New Keynesian Models, Bob Hall and Michael Woodford’s Nobel Prize, and his contributions to modeling heterogeneous agents.
October 29, 2026
