Fiscal Policy


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The Unusual Suspects

by Daniel Heilvia Budget Matters, America Off Balance
Tuesday, September 3, 2019

It seems every month, the Congressional Budget Office (CBO) releases another report showing sharp increases in the federal debt. In June, CBO released its annual Long-Term Budget Outlook showing debt would pass 100% of GDP in 2034 and hit 144% in 2049. And, just last month, CBO’s updated 10-year budget forecasts showed even larger deficits than previously predicted.


John Cochrane On The Ricochet Podcast

interview with John H. Cochranevia Ricochet
Friday, August 23, 2019

Hoover Institution fellow John Cochrane discusses the possibility of a recession.

Economic PolicyFeatured

San Francisco’s Flawed “IPO Tax” Proposal Would Tax So Much More

by Lee Ohanianvia California on Your Mind
Tuesday, July 30, 2019

San Francisco supervisors thought they had designed a wealth tax that would hit only those benefiting from the initial public offerings (IPOs) of highly successful San Francisco technology businesses, such as Uber, Pinterest, and Airbnb, among others. Tech companies often compensate employees partially with stock, whose values can rise enormously in an IPO.

In the News

Aspen Institute Panel: Rosy Economic Picture Masks Potential Problems

quoting Kevin Warshvia Aspen Daily News
Monday, July 29, 2019

Though the U.S. economy is in excellent shape right now, problems could be lurking on the horizon, an Aspen Institute panel generally concluded on Sunday afternoon.


A FaceApp For The Federal Budget

by Daniel Heilvia Budget Matters, America Off Balance
Thursday, July 25, 2019

Over the last month, social media accounts have been filled with wrinkles and gray hair. With the help of the mobile app FaceApp, people are fast-forwarding the aging process to see what they might look like years from now.

Analysis and Commentary

All That Glitters Is Not Gold

by John H. Cochranevia Grumpy Economist
Thursday, July 18, 2019

I wrote a Wall Street Journal Oped on the gold standard, partly in response to last week's Oped by James Grant (whose "PhD standard" is a great quip) and Greg Yp's excellent column on Judy Shelton and gold.


Forget The Gold Standard And Make The Dollar Stable Again

by John H. Cochranevia The Wall Street Journal
Wednesday, July 17, 2019

[Subscription Required] Precious metals no longer make sense as a store of value. Instead, peg money to goods and services.

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Debt and Taxes

by David R. Hendersonvia Hoover Digest
Tuesday, July 16, 2019

Despite rising budget deficits, few in Washington propose fiscal prudence. Instead, there are unconscionable proposals for vast new spending programs.


A Decade Of July 4th Debt Explosions: Are They Getting Less Spectacular?

by John B. Taylorvia Economics One
Thursday, July 4, 2019

Starting a decade ago, I’ve charted on Independence Day the most recent long-term projection of the federal debt by the Congressional Budget Office (CBO).

In the News

Taylor’s Rule: Too High, Too Low – Where Should Interest Rates Go?

interview with John B. Taylorvia Biz News
Thursday, June 6, 2019

Taylor’s Rule is an interest rate forecasting model invented by John Taylor in the early 90s. And according to Investopedia “it’s a proposed guideline for how central banks should alter interest rates in response to changes in economic conditions.” In South Africa, the Reserve Bank’s mandate is very topical at present, which in turn sets up a discussion around interest rates. SARB’s current mandate is tailored around a targeted inflation band of 3-6%, with the repo rate currently at 6.75%. 


Economic Policy Working Group

The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple