The PPP Was a COVID-Era Disaster. Trump Wants To Promote the Guy Who Ran It.
After overseeing the pandemic-era Paycheck Protection Program (PPP), which was a bloated, wasteful mess, Michael Faulkender is failing up.
Treasury
Return of the 'Tariff Man'
Plus: Are tariffs inflationary, RIP to a giant of the free market movement, and more...
Betting on Bessent
Plus: Pregnant law student fights a holy war, NYC officials are trying to ruin your holidays, and more...
House Votes To Let Treasury Kill Politically Disfavored Nonprofits
Administrative power over financial matters is a dangerous weapon for bypassing due process.
Biden Admin Stops Telling Americans Which Foreigners They Can Debate
The Treasury Department tried to stop an overseas conference that included politicians under sanctions. Now they’re backing down.
How Inflation Breaks Our Brains
From salt riots to toilet paper runs, history shows that rising prices make consumers—and voters—grumpy and irrational.
Here's How To Pay for Trump's Tax Cuts
There seems to be general bipartisan agreement on keeping a majority of the cuts, which are set to expire. They can be financed by cleaning out the tax code of unfair breaks.
Ruling in Favor of DIY Distillers Affirms Limits on Congressional Power
A federal judge rejected the government’s excuses for banning home production of liquor.
The National Debt Is Crossing an Ominous Line
The U.S. has successfully navigated past debt challenges, notably in the 1990s. Policymakers can fix this if they find the will to do so.
The Dark Side of Alexander Hamilton
The first treasury secretary's plans would have created cartels that mainly benefited the wealthy at the expense of small competitors.
Congressional Republicans Launch 'Fishing Expedition' Against Progressive, Jewish, and Palestinian Nonprofits
The House Oversight and Education committees are investigating the sources of “malign influence” behind campus protests. They’re using tactics Republicans used to hate.
Say No to This: America's Fiscal Norms Are in Decline
Despite their informal nature, those norms have historically constrained U.S. fiscal policy. But they're eroding.
Feds Enforcing Unconstitutional Reporting Law Against Most Businesses
Are you in compliance with the Corporate Transparency Act? Have you even heard of it?
A Bipartisan Tax Hike Won't Fix This Deficit
The government needs to cut back on spending—and on the promises to special interests that fuel the spending.
Interest Rates Are High. GOP Presidential Candidates Need To Get Serious About It.
They will either reduce the ability to spend money or to cut taxes.
Here's One Way To Move Toward Responsible Government and Sane Fiscal Policy
The Copenhagen Consensus has long championed a cost-benefit approach for addressing the world's most critical environmental problems.
Americans Learned a Lesson About Interest Rates. Washington Has Not.
Higher rates lead to more debt, and more debt begets higher rates, and on and on. Get the picture?
The Debt Crisis Is Getting Real
Rising bond yields mean the national debt is going to be a lot more expensive in the next few years, and we just keep adding to it.
IRS Targeting More Supposedly 'High-Income' Americans Than Advertised
Don’t count on that promise to not hike taxes on “people making less than $400,000.”
'Bidenomics' Is Failing Everyday Americans
The big spending has fueled higher inflation, resulted in larger-than-projected deficits, and contributed to a record level of debt.
Biden Escalates Trade War With China
A new national emergency declaration will allow for the creation of an outbound investment screening system targeting Americans' investments in China.
The Next President Needs To Cut Spending
At a minimum, the national debt should be smaller than the size of the economy. A committed president just might be able to deliver.
Scammers Stole $200 Billion From Two Federal COVID Aid Programs
A new audit says one out of every $6 distributed by the Small Business Administration during the pandemic was stolen.
The Fed Won't Save Us From the Inflation Iceberg
Plus: Was Gerald Ford right to pardon Richard Nixon?
Over $400 Billion in COVID Aid Was Stolen or Wasted
A new Associated Press analysis of government data suggests 10 percent of all COVID aid was lost to fraud or theft. That figure will likely grow.
The Debt Ceiling Deal Does Not Go Nearly Far Enough
Projections of huge savings are making the rounds. Nothing could be further from the truth.
'Cash Is Independence': Ron DeSantis Slams the Government's Plan for Centrally-Controlled Digital Money
"If you don't trust central authority, then you should see this immediately as something that is very problematic," says the Florida governor.
The Clock Is Ticking: U.S. Could Default on Debt Payments by June 1
It's time for President Joe Biden and House Speaker Kevin McCarthy to strike a deal that will avoid a default and cut spending.
The Biden Administration Reduced the Debt-to-GDP Ratio in the Worst Possible Way
The main driver behind the reduction is inflation—inflation that politicians created with their irresponsible spending.
Blame the Government for the New Banking Crisis? Live With Lyn Alden, Arnold Kling and Zach Weissmueller
Join Reason on YouTube and Facebook Thursday at 1 p.m. Eastern for a discussion of the Silicon Valley Bank meltdown and bailout of depositors with economist Arnold Kling.
Everyone Is Learning the Wrong Lessons From the Silicon Valley Bank Collapse
Plus: Fox News troubles, junk statistics about illicit economies, and more...
Social Security and Medicare Cuts Are Coming, Whether Politicians Do It or Not
As legislators refuse to act, benefits will be cut without any possibility of sheltering those seniors who are poor.
The GOP's Current Plan To Cut Spending Is a Political Failure
Social Security, Medicare, and Medicaid are still the chief drivers of our future debt. But Republicans aren't touching them.
To Win the Speakership, Kevin McCarthy Had To Promise To Cut Spending. Good.
While some Republicans may have had misguided motivations, a few disrupted McCarthy's campaign in order to enact fiscal restraint. Their colleagues were fine with business as usual.
Democrats May Regret Compromising Taxpayer Privacy To Get Trump
The release of the former president’s tax returns sets a dangerous precedent.
The Annual, Depressing 'Do Your Job Week' in Congress
Plus: The editors extend the discussion on the lack of immigration reform in this week’s bill.
November's $249 Billion Federal Budget Deficit Set a Record. Now, Congress Is Preparing To Spend Even More.
The government spent $501 billion in November but collected just $252 billion in revenue, meaning that about 50 cents of every dollar spent were borrowed.
Governments Scramble To Manage, Regulate, and Throttle Crypto
Most dangerously of all, they're starting to make their own central bank digital currencies.
A GOP-Led Congress May Focus on Owning the Libs. Instead, It Should Focus on Owning Inflation.
If the midterms favor Republicans, their top priority needs to be the fight against inflation—whether or not they feel like they created the problem.
This Election Day, Listen to the Betting Market Instead of Pundit Predictions
Over time, betting has been a better predictor than polls, pundits, statistical models, and everything else.
Activist Groups Demand Feds Require Nutrition Labels on Booze
Plaintiffs want the nanny state to nanny harder.
Here's Why Biden Is Wrong About the Deficit
His administration has expanded deficits by $400 billion more than expected, even before we count recent spending.
IRS Sent $1.1 Billion in Child Welfare Payments to the Wrong People
Possibly the federal government's most efficient pandemic spending effort.
Biden's Student Debt Relief Plan Will Worsen Inflation
"Student loan relief would lead some people to spend more," warns Obama economic advisor and Harvard economist Jason Furman
The Tornado Cash Crackdown Is an Attack on Speech and Privacy
For the first time ever, the Treasury Department has sanctioned not a person or a group but a digital tool and all who would use it.
A Wonky Evisceration of Biden's Bad Deficit Math
Interest rates and servicing costs could push us into worrisome territory sooner than we think.
