The U.S. Economy

  • Biden's Manufacturing Initiative Aids Poorest Counties

    February 13—A recent study from MIT and the Brookings Institution finds that the nation's poorest counties, generally Republican strongholds, have benefited disproportionately from President Biden's efforts to boost U.S. manufacturing. The study credits measures associated with the Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and the Inflation Reduction Act with the ongoing surge in manufacturing capacity, though voters in red districts benefiting from the Biden programs remain loyal to Donal Trump.

    Story at Reuters
  • November 1—If you're mystified by concepts like the "Fed balance sheet" or "open market operations," CNN offers a primer on one of the key mechanisms by which the federal government tries to control inflation while maintaining the economy as close to full employment as possible.

  • How Much Federal Debt is Too Much?

    Economists all agree that at some point, borrowing by the federal government will create inflation and impede productivity and growth. Recent research finds, however, that the level at which government borrowing becomes problematic is certainly greater than what was once thought. With U.S. debt at near-record levels, and the tax plan being pushed by the Trump administration and its congressional allies likely to add more red ink to America's balance sheet, the question is more than academic. This New York Times piece looks at current thinking on the topic. (October 2018)

    Story at New York Times
  • Median incomes are up for two consecutive years and unemployment down as the Obama recovery brings more jobs, higher wages and better health insurance coverage. But economic trends going back 50 years still thwart the efforts of many to achieve secure middle-class livelihoods. This New York Times piece by Patricia Cohen examines the issues.

  • Tax breaks for the rich, protectionism, giving away the commons to private developers, radically restricting immigration, the dumping of needed regulations and environmental protections will not improve the U.S. economy, writes NYU Stern School of Business professor Nouriel Roubini in this piece for The Guardian.