Veronique de Rugy is the George Gibbs Chair in Political Economy and a senior…
If spending isn’t cut, taxes will have to be raised on everyone, a lot.
The fear is that eroding fiscal norms will change investors’ expectations about being repaid for government debt, something that comes with just about every bad economic consequence one can imagine.
Industrial policy won’t create jobs for poorly educated workers, but it will supercharge cronyism.
Even if every newspaper and the President insist that Americans’ lives are getting better because of falling inflation, we know that’s not right.
‘National security’ is being used to scare Americans into thinking that a good deal for investors, employees and the economy will somehow make America less militarily secure.
Unfortunately, no fiscally irresponsible budget is complete without soothing individual taxpayers by promising to tax corporations.
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