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The Trade Secret of Intellectual Trumpism AA

By Joseph C. Sternberg - April 10, 2025

Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved.

Principles of Government · September 15, 2025 ·

The truth is much more complex, and politically challenging: While some other economies suppress domestic consumption and subsidize export production, Americans choose to do almost exactly the opposite. Through political choices such as suppressing energy production and distribution, or permitting red tape and the like, or any number of other policy foibles, we make it much harder than it otherwise would be to produce things in the U.S. Meanwhile, you can’t take a step in America without tripping over a consumption subsidy.

Most glaring, though, are our entitlements. Social Security, Medicare and Medicaid, not to mention a raft of other benefit programs, funnel vast quantities of money into consumption. The trick here is that we’re able to finance these via chronic fiscal deficits funded by foreign investors, meaning at the margin Americans borrow from the rest of the world at ultralow interest rates and funnel the cash into consumption at home.

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Filed Under: (A) Fiscal Policy, (A) Social Policy, Transfers and Entitlements, Articles

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Characteristics of Government

  • INTRODUCTION
  • SOCIALISM
  • COMPETITION
  • DEMOCRACY AND VOTING
  • SOCIAL POLICIES EFFECTS ON DEMOCRATIC GOVERNMENT
  • GOALS OF PROGRESSIVISM AND THE MODERN LEFT
  • EVOLVING IDEOLOGIES
  • DEMOCRACIES AND NATIONAL DEFENSE

Principles of Government

  • INTRODUCTION
  • CITIZENSHIP
  • BELIEF SYSTEM
  • GOVERNMENT STRUCTURE AND POLITICAL SYSTEM
  • FISCAL POLICIES
  • SOCIAL POLICIES
  • FREE MARKETS AND REGULATION
  • SOUND MONEY
  • THE RULE OF LAW
  • DEFENSE AND FOREIGN POLICY
  • Conservation and Environment

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Characteristics of Government

  • INTRODUCTION
  • SOCIALISM
  • COMPETITION
  • DEMOCRACY AND VOTING
  • SOCIAL POLICIES EFFECTS ON DEMOCRATIC GOVERNMENT
  • GOALS OF PROGRESSIVISM AND THE MODERN LEFT
  • EVOLVING IDEOLOGIES
  • DEMOCRACIES AND NATIONAL DEFENSE

Principles of Good Government

  • INTRODUCTION
  • CITIZENSHIP
  • BELIEF SYSTEM
  • GOVERNMENT STRUCTURE AND POLITICAL SYSTEM
  • FISCAL POLICIES
  • SOCIAL POLICIES
  • FREE MARKETS AND REGULATION
  • SOUND MONEY
  • THE RULE OF LAW
  • DEFENSE AND FOREIGN POLICY
  • Conservation and Environment

Resources

  • Featured Articles
  • ARTICLES
  • BOOK REVIEWS
  • Books
  • MAJOR THINK TANKS
  • CIVIC EDUCATION WEB RESOURCES
  • Important Conservative Organizations
  • Conservative American Colleges and Universities
  • Print Resources

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