The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.

[The US] budget is dominated by the retirement programs, Social Security and Medicare - loosely speaking, the post-cold-war federal government is a big pension fund that also happens to have an army.

Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.

Governments do not necessarily act in the national interest, especially when making detailed microeconomic interventions. Instead, they are influenced by interest group pressures. The kinds of interventions that new trade theory suggests can raise national income will typically raise the welfare of small, fortunate groups by large amounts, while imposing costs on larger, more diffuse groups.

So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment.

I'm not sure that the current value of the NASDAQ is justified, but I'm not sure that it isn't.

Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.