A growing economy creates jobs, raises living standards, maintains global competitiveness, and thus engenders positive attitudes and optimism about the future.
While many policymakers seem intent on focusing on either economic stimulus or austerity, IPI believes that the economy can grow consistently and at higher rates than we’ve experienced in the last decade, and we reject the idea that economic growth contains within itself the seeds of its own demise through inflation, the business cycle, and erroneous Phillips Curve assumptions. Therefore, economic growth should be elected officials’ primary policy goal at the federal, state and local levels, and it’s the organizing principle of our policy work at IPI.
Whatever limitations may exist on economic growth, they should not be self-imposed through counterproductive tax policy, overbearing regulations, ill-conceived monetary policy, trade protectionism, or hostility toward skilled and ambitious immigration.
The Most Dangerous Experiment in World History
The only federal budget deficit larger than the current one was . . . last year’s.
White House High-fiving More Jobs While Killing Economy
The latest jobs report from the federal government shows unemployment is 5.9%, which is positive news, but an economic think tank predicts little improvement as long as Joe Biden is in the White House.
No, Unemployment Rates Won't Return to Pre-pandemic Levels
The White House and media are predicting when unemployment will return to pre-pandemic lows, but that won't happen if the White House and media get their big-government budget blowout.
Treasury Traders Brace for Volatility With Debt-Limit Chaos Near
In a protracted 2013 debt-limit episode, Fitch Ratings put the U.S. rating on negative watch given the government’s failure then to raise its borrowing limit as the Treasury’s hard deadline neared. In 2011, a split House and Senate took the debt-limit debate down to the wire, prompting S&P Global Ratings to cut America’s sovereign credit grade for the first time.
The Democrats' Power to Tax Is the Power to Destroy the Economy
If Republicans allow Democrats to pass through budget reconciliation everything that was taken out of the bipartisan infrastructure deal, they will be complicit in the economic harms that will inevitably result.
Coalition Letter Urging Congressional Leadership to Protect Consumer Choices
This coalition letter opposes the passage of S.J.Res. 15, the Congressional Review Act resolution which would overturn the Office of the Comptroller of Currency’s (OCC) 2020 True Lender Rule.The Rule sought to provide regulatory certainty to banks and third-party processors on who is the “true lender” when issuing short-term loans and to support the availability of responsible credit for people who need it most.
Biden's Backdoor Scheme for Effectively Raising the Minimum Wage
Joe Biden is unlikely to get his $15/hour minimum wage proposal passed, so he's trying to increase wages through the backdoor—and it may be working.
All This for 1.8 Percent Growth?
So what the Biden administration is proposing is a gargantuan expansion of federal spending and borrowing, which will explode the deficit, further bloat the national debt, and run the risk of monetary inflation, all in order to achieve a rate of economic growth that is lower than that of the previous administration.
What 'I, Pencil' Could Teach Joe Biden About Supply Chains
Joe Biden needs to read "I, Pencil," a story highlights the importance of free markets, and especially the often ignored role of supply chains.
Inflation Is the Most Miserable Tax of All
It was government policy that caused the inflation of the 1970s, and it’s government policy that is bringing inflation back today.
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