I thought I was already cynical enough. I guess I was wrong.
Over the years I’ve seen elected Republican politicians telling voters about how strongly they stood for “free-market principles” and then vote in ways that are completely contrary to those principles. I’ve seen it so many times that I didn’t think I could be surprised.
But I was wrong.
After meeting with U.S. officials in Beijing this week, China is in turn expected to send delegates to Washington for continued trade talks.
IPI’s Dr. Merrill Matthews joined a panel on CGTN’s The Heat to discuss whether these meetings are laying hopes for a resolution on trade.
Amid rising tensions in U.S.-China trade, IPI resident scholar Dr. Merrill Matthews joined CGTN America’s The Heat where he noted that China’s retaliatory tariffs are indeed highly targeted toward likely supporters of President Trump, while the U.S.-imposed tariffs are hammering all American consumers and the opposite of “draining the swamp.”
With tax reform having just become law, economists are trying to project the effects on the U.S. economy. Such calculation in a highly complex, dynamic economy is at least as much art as science but one trend seems clear -- the job market will continue to tighten. Some economists are predicting that unemployment will drop to 3%, nearly matching the lowest average unemployment rate on record (2.93% in 1953). But there are jobs and then there are good jobs—which will these new jobs be? A study by NDP Analytics provides some insight. It’s the intellectual property-intensive industries that will be driving the growth and creating the types of jobs and careers that people want.
I was honored to learn this morning that The Village Voice had included me in their listing of the "10 Worst Rightblogger Ideas of 2016."
Here’s a link to the piece, and here’s the money quote:
“Local control is not a trump card that allows municipalities to restrict economic freedom,” declaimed Tom Giovanetti at the Institute for Policy Innovation. Get outta here with this “consent of the governed” bullshit — we’re talking about money!
The macro context here is what Village Voice views as those nutjob libertarians and their insistence on economic freedom, and the micro context is the debate over cities like Austin, Texas regulating Uber out of the city. Village Voice sees this as democracy in action, of course, while I see it as the tyranny of the majority infringing on the economic freedom of the average guy.
Now, I’m being a bit tongue-in-cheek here, of course, but since you know a man by his enemies, I’m delighted that the lefties at the Village Voice find my arguments to be ridiculous.
In a few weeks we have another policy change coming out of Washington—this time new regulations on money market funds—that seems almost intentionally designed to cause harm to the private sector and to slow economic growth. I’m starting to wonder whether this is simply more Big Government incompetence or something more insidious?
I tend to attribute most failures of government to ineptitude rather than conspiracy. There’s no reason to think the average government employee is any wiser or more knowledgeable than the average person in the private sector—in fact, there’s every reason to believe otherwise, since various federal protections make it harder to weed out incompetent federal employees.
But suppose for a moment that I am wrong—that at the highest levels of the most important federal agencies, there are actually devilishly clever people playing the game several moves ahead of the rest of us. Making moves that are vital to the survival of their most cherished and most useful institution—the federal government—regardless of the impact on the American people.
That scenario might be more probable or less probable, depending on your degree of cynicism, but it hinges on a defensible premise—that the interests of the federal government and the interests of the American people are NOT the same thing. The federal government is not a proxy for the country. As Ronald Reagan said in his first inaugural address, “We are a nation that has a government—not the other way around.” It’s said that the smartest thing the Devil ever did was convince people he didn’t exist. Well, the smartest thing the federal government ever did was convince the American people that its interests are their interests. The truth is, the federal government is the most powerful special interest in America.
So if you’re the federal government, what is your greatest threat? Not war or terrorism, because war and terrorism have proven to be windfalls for federal government growth. Almost certainly the single most important institutional concern of the federal government today is managing its own debt, which has risen to an unimaginable $19.4 trillion dollars. Interest alone on the debt is now one of the largest line items in the federal budget, and so servicing its debt and avoiding insolvency is as important to the federal government as it would be to any business or household.
We’re in a political environment right now where, stunningly, in a very short period of time, free trade and the treaties that liberalize trade have gotten a bad rap.
The United States is the cleanest place on earth to refine oil. We have the highest environmental standards, the best technology, and the strongest rule-of-law institutions.
That Canadian oil is going to be refined somewhere. If not in the U.S., it’s going to be refined elsewhere. Contrary to Obama’s implication, that oil is NOT going to remain in the ground.
That means the Keystone XL pipeline was the best option for the environment. Now that oil will be shipped by rail and by ship, where a spill is more likely and more damaging, where the refining will be more harmful to the environment, and where the jobs and other economic benefits will happen.
Just the latest example of how for liberal-progressivism, symbol is more important than substance. It’s about how it makes liberals feel, now—not about reality or the long-term impact of the policy.
We'll, here's some good news: The House voted today to lift the senseless and outdated ban on U.S. crude oil exports.
And while this may seem like a no-brainer, there are any number of no-brainer pieces of legislation that Congress isn't bothering to move, so this is progress.
There is no argument against allowing U.S. crude oil exports except for an extreme anti-fossil fuels mindset, which is as unrealistic as it is wrong.
It's important for the Republican Congress to be passing this kind of commonsense legislation that the majority of the American people support, even if they suspect President Obama is going to veto it.
Let him. Force him to explain his rationale to the American people. Get him on record, and force all other Democratic candidates and elected officials whether they agree with the President or not.
One of the things that is so frustrating people right now is Congresses not bothering to pass good legislation because of the threat of a veto. In this baseball playoff season, Republicans need to stop playing wiffleball and start playing hardball.