The federal deficit has ballooned in recent years, and even larger deficits are coming due to the expected growth of entitlement spending. There is little disagreement among members of both political parties that federal spending should be reduced.

Regardless of how the government shutdown and debt-ceiling fight plays out, our political leaders will eventually have to negotiate meaningful spending cuts and entitlement reforms. Otherwise, the country will lurch from one stalemate-and-crisis to another.

There’s a silver lining to the alternative minimum tax: tweak it the right way, and you can establish a flat tax. By David R. Henderson.

Hoover media fellow Edward Neilan discusses the sorry state of Hong Kong today. “To see how the free market really works,” Milton Friedman used to say, “Hong Kong is the place to go.” Would that it were still true.

To us, it's a border. But to Mexico, it's an escape valve. Why closing that valve would destabilize our southern neighbor—and damage our own interests. By Stephen Haber.

The illusion that Barack Obama will lead from the economic center has quickly come to an end. President Obama is returning to Jimmy Carter’s higher taxes and Bill Clinton’s draconian defense drawdown.