Had the U.S. economy recovered from the current recession the way it bounced back from the other 10 recessions of the Post-War Period, our per capita Gross Domestic Product would be $3,553 higher and 11.9 million more Americans would now be working....
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Echoes of the Great Depression
Echoes of the Great Depression By Phil Gramm (As published on Wall Street Journal) This may not be your grandfather’s Great Depression, but many aspects of today’s situation would remind him of the 1930s. If the recession that officially ended a year ago feels uncomfortably surreal to you yet familiar...
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Bring back deficit knife
Federal budget deficits are back with a vengeance. With the U.S. economy showing clear signs of recovery, it is time for Washington policymakers to shelve budget-busting health care reform and “cap-and-trade” legislation and focus instead on reducing deficit spending. Newly released budget projections from the Congressional Budget Office (CBO) and...
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Phil Gramm: Deregulation and the Financial Panic
Loose money and politicized mortgages are the real villains. February 20, 2009 The debate about the cause of the current crisis in our financial markets is important because the reforms implemented by Congress will be profoundly affected by what people believe caused the crisis. If the cause was an unsustainable...
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If You Like Michigan’s Economy, You’ll Love Obama’s
Despite the federal government's growing economic dominance, individual states still exercise substantial freedom in pursuing their own economic fortune -- or misfortune. As a result, the states provide a laboratory for testing various policies....
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