WSJ: How to Balance the Budget—Again

A GOP Congress and a Democratic president struck an unlikely deal in 1997. It succeeded. By Michael Solon Aug. 4, 2019 5:48 pm ET The budget deal between the president, the Democratic House and the Republican Senate eliminated the risk of debt default, government shutdown and a spending sequester for...
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WSJ: Who Pays for Student-Debt Forgiveness?

Taxpayers who didn’t go to college, didn’t take on debt, or paid it off already. By Michael Solon June 26, 2019 6:47 pm ET Democrats have begun a bidding war over student-debt forgiveness. Joe Biden proposes to expand it for public-school teachers. Elizabeth Warren wants to forgive 75% of all...
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WSJ- Has the Federal Reserve Lost Its Mojo?

The central bank has less control over market interest rates today than at any time in its history. By Phil Gramm and Thomas R. Saving June 17, 2019 7:17 p.m. ET When the Federal Open Market Committee’s meeting concluded last month, reporters focused on the federal-funds rate, announcing that it would...
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WSJ-The Myth of ‘Wage Stagnation’

Usual measures of inflation don’t count the benefits of better products and more consumer choice. By Phil Gramm and John Early May 17, 2019 4:49 p.m. ET Perhaps the most common indictment of America’s legendary prosperity is wage stagnation. Bureau of Labor Statistics data show that average hourly earnings of production...
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