Principles Of Government

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Principles of Government

Pivot to the Pacific? That Misses the Point B

By Andrew A. Michta - June 23, 2023

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By Andrew A. Michta – Meantime, over the past 30 years the U.S. defense industry has consolidated from 51 to five aerospace and prime defense contractors. This mismatch has led to multiyear delays for weapons and munitions deliveries to our forces and allies. As a result, our military isn’t positioned to fight simultaneous and potentially uncontrollable conflicts on the horizon—a problem that no amount of strategic finessing, rebalancing between theaters, or technological sophistication can resolve. There’s a way forward, but it will require that we invest in expanding the military and the defense industrial base. Read More

Government Policies, Not Low Rates, Are Driving Inflation A

By David Malpass - Sept. 11, 2023

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By David Malpass – The Fed’s bond purchases make matters worse by enabling Washington’s fiscal irresponsibility.

The Federal Reserve’s monetary policy is broken. Normalization of interest rates has been needed for years to allow markets, not regulators, to allocate capital. But with interest rates at 5.5% and the dollar strong, the inflation battle must shift to the problem of government spending and regulation. The Fed’s silence on the fiscal and regulatory roots of this inflation crisis, and its insistence on using an antiquated inflation model that blames growth and jobs for price hikes, risks an even weaker U.S. economy. Read More

The FDIC Has a Proven Way to Avoid Moral Hazard A

By William M. Isaac - March 28, 2023

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By William M. Isaac – Instead, the FDIC should have turned to its 1982 innovation: the modified deposit payoff. This would ameliorate the damage a bank failure inflicts on the economy without creating the moral hazard accompanying a 100% guarantee. Uninsured money that would otherwise sit idle for years at the failed bank receivership would be returned promptly to the local marketplace to support economic growth. Read More

The Scary Math Behind the World’s Safest Assets B

By Spencer Jakab - Aug. 12, 2023

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By Spencer Jakab – Say you added just 1 percentage point to the average interest rate in the CBO’s forecast …That would result in an additional $3.5 trillion in federal debt by 2033. The government’s annual interest bill alone would then be about $2 trillion. For perspective, individual income taxes are set to bring in only $2.5 trillion this year.

Compound interest has a way of quickly making a bad situation worse—the sort of vicious spiral that has caused investors to flee countries… Read More

On Marriage, an Economist Bravely States the Obvious B

By Jason L. Riley - Sept. 26, 2023

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By Jason L. Riley – George Gilder wrote about the importance of the nuclear family in “Sexual Suicide” (1973) and “Men and Marriage” (1986). Charles Murray, who had touched on it in his landmark study, “Losing Ground” (1984), made similar arguments in “Coming Apart” (2012). In 1994 David Blankenhorn published “Fatherless America,” and 1996 brought David Popenoe’s “Life Without Father: Compelling New Evidence That Fatherhood and Marriage Are Indispensable for the Good of Children and Society.”

Other books that cover the same ground as Ms. Kearney include Linda Waite and Maggie Gallagher’s “The Case for Marriage: Why Married People Are Happier, Healthier and Better Off Financially”; James Q. Wilson’s “The Marriage Problem: How Our Culture Has Weakened Families”; Kay Hymowitz’s “Marriage and Caste in America: Separate and Unequal Families in a Post-Marital Age”; and Ralph Richard Banks’s “Is Marriage for White People? How the African American Marriage Decline Affects Everyone.” Read More