News
The Fed’s Fiscal Folly
1+ hour, 59+ min ago (389+ words) Because the Fed's earnings normally flow back to the Treasury, changes in the size and composition of its balance sheet have direct fiscal consequences. Large interest payments on reserves or asset losses reduce those remittances and effectively increase the federal…...
In the Press: Privatize TSA, War on Poverty legacy, Immigrants aren’t the fraud problem
2+ day, 7+ hour ago (683+ words) Jack Nicastro in Reason makes the case that government shutdowns wouldn't threaten airport security if the TSA weren't running it. He cites Chris Edwards on the international evidence: Not only is private airport security a better way, but it is…...
Congress Knows It Has a Spending Problem, But Won’t Fix It
5+ day, 7+ hour ago (635+ words) This article first appeared at The Daily Economy, an imprint of the American Institute for Economic Research, on March 19, 2026. Read it here. At a recent Senate hearing on the fiscal outlook, legislators and budget experts said the quiet part out…...
Seigniorage in the IOR Regime: Why a Fed Policy of Inflating Away Debt Would Mean Much More Severe Inflation (Part II)
1+ week, 1+ day ago (329+ words) The muted inflation following the 2008 financial crisis bred complacency during COVID-19. Many, including Fed officials seemed to believe that they no longer needed to worry as much about inflation as the Fed extensively expanded its balance sheet, this time by…...
A Balanced Budget Amendment That Borrows from Switzerland’s Fiscal Playbook
1+ week, 1+ day ago (720+ words) A Balanced Budget Amendment That Borrows from Switzerland's Fiscal Playbook'The Debt Dispatch A Balanced Budget Amendment That Borrows from Switzerland's Fiscal Playbook The Biggs BBA Gets the Design Right'Mostly This week, the House is set to vote on H.J. Res. 139, a…...
Seigniorage in the IOR Regime: Why a Fed Policy of Inflating Away Debt Would Mean Much More Severe Inflation (Part I)
1+ week, 2+ day ago (193+ words) Paying interest on bank reserves turned what had been pure money creation into another form of government borrowing. Jeffrey Rogers Hummel is an adjunct scholar at the Cato Institute's Center for Monetary and Financial Alternatives. He is Professor Emeritus of…...
Debt Digest | Fiscal Commission Act Introduced in the Senate
1+ week, 3+ day ago (742+ words) Debt Digest | Fiscal Commission Act Introduced in the Senate'The Debt Dispatch Debt Digest | Fiscal Commission Act Introduced in the Senate Links & Fiscal Facts Here are this week's reading links and fiscal facts: Bipartisan Fiscal Commission Act introduced in the Senate....
Speaking at Oklahoma State University Today
2+ week, 2+ day ago (102+ words) Speaking at Oklahoma State University Today'The Debt Dispatch Speaking at Oklahoma State University Today Reimagining Social Security and US Debt Dynamics I am looking forward to speaking at Oklahoma State University today, Tuesday, March 10, where I'll give two lectures on…...
In The Press: How to Win the War on Fraud, Trump’s $1,000 Retirement Match, and Shutdown-Proof ICE
3+ week, 5+ day ago (720+ words) Jessica Hall reports on President Trump's plan "to create retirement-savings plans for workers who don't have access to one through their employer, offering up to $1,000 a year in matching funds" for MarketWatch. Romina Boccia explains why the plan would require…...
America’s Debt Is a National Security Risk
2+ week, 5+ day ago (771+ words) This article first appeared at The Daily Economy, an imprint of the American Institute for Economic Research, on March 6, 2026. Read it here. Wars test nations. They test military readiness, alliance cohesion, and political resolve. But they also test something less…...