This week marks the 40th anniversary of the Staggers Rail Act of 1980, which deregulated American freight…
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Happy 40th to the Staggers Rail Act, Which Deregulated and Saved the U.S. Rail Industry

This week marks the 40th anniversary of the Staggers Rail Act of 1980, which deregulated American freight rail and saved it from looming oblivion.

At the time of passage, the U.S. economy muddled along amid ongoing malaise, and our rail industry teetered due to decades of overly bureaucratic sclerosis.  Many other domestic U.S. industries had disappeared, and our railroads faced the same fate.  But by passing the Staggers Rail Act, Congress restored a deregulatory approach that in the 1980s allowed other U.S. industries to thrive.  No longer would government determine what services railroads could offer, their rates or their routes, instead restoring greater authority to the railroads themselves based upon cost-efficiency.

Today, U.S. rail flourishes even amid the coronavirus pandemic…[more]

October 13, 2020 • 11:09 PM

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1 Under Trump, U.S. Economy Continues to Outperform Europe

Of all the people Democrats could’ve featured during the first night of their ratings-deficient convention this week, New York Governor Andrew Cuomo made for an especially odd choice.   Most notably, Governor Cuomo maligned President Trump’s performance amid the coronavirus pandemic, either brazenly or cluelessly ignoring the…

2 The Trump Economic Bump, Round II

Friday morning found Joe Biden, Nancy Pelosi and Chuck Schumer in a funereal mood, their grim visages one of near-mourning.  The occasion for their gloom came in the form of a stunningly positive monthly jobs report that markets and the rest of America celebrated, but wouldn’t allow them even the hint of a smile during their statements.&…

3 The Spread of the Debt Virus

The current U.S. budget deficit could soon exceed a record $4 trillion. The massive borrowing is being driven both by prior budget profligacy and a hurried effort by the Donald Trump administration to pump liquidity into a quarantined America. The shutdown has left the country on the cusp of a self-inflicted economic collapse not seen since the Great…

4 Bernie's Wrong: We Are Better Off Today Than We Were 45 Years Ago

A record-high number of Americans – 90% – say they are satisfied with their personal lives, according to Gallup. And 74% are optimistic that they will continue being financially satisfied moving forward. Needless to say, the United States will never be a utopia, but for the vast majority of its citizens, most things are going…

5 On Economy, Trump Is Right, Obama Wrong

For sheer cognitive dissonance, denial and historical amnesia, today’s leftists and Never-Trumpers provide enough subject material to merit a new research wing within the American Psychological Association.  This week brought another vivid manifestation when Barack Obama reentered the political fray by falsely claiming credit for today&…

6 The Democrats' Economic Message Is Preposterous

Actually, contends every 2020 Democratic presidential hopeful, the economy is in really bad shape. It is only working for the wealthiest among us while leaving behind the poor, the working class and the shrinking middle class. Now, I suppose one could forgive the socialist contingent of the party for offering knee-jerk class-based bromides &ndash…

7 U.S. Economy Blossoms as Our Tax Burden Drops

In welcome pre-holiday news last week for everyone except those suffering from Trump Derangement Syndrome, the Labor Department announced that job growth exceeded all expectations last month, as U.S. employers added 266,000 new jobs and the unemployment rate plummeted to a 50-year low of just 3.5%.  Just as significantly, employee wages jumped…

8 Trump Economy Roars, Leftists Pivot from Predicting Doom to Claiming Credit

As the American economy continues to defy naysayers and reach unprecedented heights, a funny thing has occurred.  Namely, leftists and Obama apologists have shifted from insisting that President Trump’s economic policies would trigger a catastrophic depression to claiming that all of this is actually Obama’s doing.  Last week…

9 History Has Shown That Socialism Isn't the Cure

Multiple forms of socialism, from hard Stalinism to European redistribution, continue to fail. Russia and China are still struggling with the legacy of genocidal communism. Eastern Europe still suffers after decades of Soviet-imposed socialist chaos. Cuba, Nicaragua, North Korea and Venezuela are unfree, poor and failed states. Baathism &mdash…

10 The Fed Has No Business Entering the Real-Time Payment Market

When most Americans think of the Federal Reserve, to the extent that they do at all, they naturally associate it with its primary role of stabilizing our currency through regulation of the nation’s money supply.  And even on that task, the Fed’s performance record is debatable, to put it charitably.  Given its spotty record…

11 Dems Want Another Chunk of Your Paycheck

Democrats see your paycheck as fair game for their endless social improvement projects. Every Democrat vying for the White House backs federal legislation that would guarantee workers nearly three months of paid family medical leave every year to care for newborns and the sick. Sounds wonderful. Who doesn't want to work nine months a year and get paid…

12 Trump Economy Leaving Obama’s in the Dust

Try to reconcile this contradiction.  On the one hand, Barack Obama and his apologists claim that he deserves credit for halting an economic recession that actually bottomed out in the fall of 2008 before he was elected, and officially terminated less than five months into his tenure – long before any of his policies had taken effect, or…

13 Liberals Were Very Wrong About Tax Cuts. Again.

For those of you who survived the Great GOP Tax Cut Massacre, things are finally looking up. The unemployment rate fell to 3.6 percent last month, the lowest level since 1969. We've now experienced over a full year of unemployment at 4 percent or lower. The economy beat projections, adding another 263,000 jobs in April. Wages are rising. It was Larry…

14 Democrats' Plan to Destroy the Jobs Boom

If you're looking for work, this is the best job market in 50 years. The economy is soaring. But Democrats running for president are pitching plans that will destroy millions of jobs, doubling the number of people out of work. Consider "Medicare for All." It could wipe out a staggering 2.5 million health insurance and health care jobs nationwide…

15 Trump Economy Accelerates, Leftists Hardest Hit

Remember how Barack Obama repeatedly rationalized the economic malaise that defined his presidency by scapegoating everything from the 2011 Japanese tsunami to ATMs?  This was Obama in 2011, when it was already clear that his economic policies were failing:  There are some structural issues with our economy, where a lot of businesses have…

16 Amid Good News, Can Democrats Talk Down the Economy?

"The recession talk in late 2018 got way, way out of hand," New York Times economic reporter Neil Irwin tweeted a few days ago. Indeed it did. Irwin's tweet came shortly after the government released figures showing the economy grew at a 3.2% annual rate in the first three months of this year. The number was good by anyone's measure, significantly…

17 Dems' Tax Hypocrisy

House Democrats are demanding the Internal Revenue Service hand over President Donald Trump's tax returns. Not that Speaker Nancy Pelosi or other Dems making the demand are willing to disclose their tax filings. Fat chance. Not in the House of Hypocrites. White House staff and the president's lawyers are making it crystal clear that Trump's returns…

18 Economy: Trump Achieves What Obama Apologists Said Was Impossible

If Trump thinks he can get more than 3% economic growth, he’s dreaming.   —Los Angeles Times economic columnist Michael Hiltzik, May 19, 2017  Expect a lot of boasting, but 3% growth is still nonsense.  —New York Times columnist Paul Krugman, January 28, 2018  Apparently, the budget forecasts that U.S. economic…

19 High-Tax Governors Scapegoat Tax Reform for the “Diabolical” Consequences of Their Own Policy Choices

Should low-tax states like Tennessee, Texas or Florida subsidize high-tax states like New York, California or Illinois?  Indeed, do low-tax states even owe a moral duty to support their high-tax brethren states?  New York Governor Andrew Cuomo somehow thinks so.   He considers it “diabolical” and an “injustice…

20 Low Taxes Are the Best Sweetheart Deal

Ever since Amazon's breakup with New York on Valentine's Day, dejected Mayor Bill De Blasio is complaining that corporations shouldn't be able to play off one local government against others for tax breaks. "I don't think it's really fair to pit city against city and state against state," De Blasio whined like a jilted suitor. Grow up, Mr…

21 Dems Deny Economic Boom

Democrats, now the majority in the House of Representatives, are trying to turn that body into the House of Resistance. They vowed to use the State of the Union to voice their claims that the nation is in bad shape, rigged to benefit only the rich. But facts are stubborn things. Fact No. 1: An amazing 304,000 jobs were created in January, according…

22 2019 Index of Economic Freedom: America Finally Regains Its Footing

After a decade of decline, the United States is finally enjoying a renaissance in economic freedom.  So says the just-released 2019 edition of the Heritage Foundation’s annual Index of Economic Freedom, which for twenty-five years has ranked the world’s nations in terms of property rights, rule of law, taxes, government spending,…

23 Dems' Dangerous Ideas on Fighting Inequality

Leftist Democrats eyeing the White House in 2020 are plotting new ways to confiscate Americans' hard-earned money and give it away. Claiming economic inequality is a national crisis, they want to take money from those they say have too much. Senator Elizabeth Warren, D-Mass., is pushing a wealth tax. Never mind that it's unprecedented and unconstitutional…

24 Lessons from History: Lower Tax Rates Boosted Revenues and Increased Share Paid by Wealthier Americans

Some folks are born silver spoon in hand, Lord, don’t they help themselves, y’all? But when the tax man comes to the door, Lord, the house looks like a rummage sale, yeah… —Creedence Clearwater Revival, “Fortunate Son” Although more ‘60s-vintage hyperbole than economics textbook prose, CCR’s lyric…

25 Dems' 'Tax the Rich' Hoax

The U.S. Department of Labor jobs report, released Friday, shows eye-popping gains, concluding a year that has been great for workers. Hourly wages shot up after 10 years of stagnation and real household income topped its highest level in history. Basically anyone who wants a job can get one. "If we're not right at full employment, we're very…

26 CFIF to HHS: Don't Blow It With Drug Price Controls

A relatively stable and sound economy has become the new normal, something too many of us are starting to take for granted. But just two years ago, things weren't quite so rosy.  As one trip back down Memory Lane, note this Wall Street Journal observation in a September 13, 2016 article entitled "CEOs See Sluggish Growth":  The…

27 Will Blue States Go for Trumponomics?

In a contest too close to call, Republican gubernatorial candidate Bob Stefanowski is running to slash Connecticut taxes and bring Trumponomics to the state. The nation is watching to see whether a fiscal reformer can sell President Donald Trump's tax-cutting approach to voters who disdain Trump. Critics call Stefanowski's proposal to phase out the…

28 Greatest Economy Ever? Signs Increasingly Suggest "Yes"

This month, for the first time since 2008, the United States regained its spot atop the World Economic Forum's annual ranking of the world's most competitive economies.  It's about time.  For eight long years during the Obama Administration, the United States endured the most sluggish cyclical economic "recovery" in recorded history…

29 NAFTA Updated: A Win for U.S. Intellectual Property

This month, as expected, Canada agreed to join the trade accord reached earlier between the United States and Mexico, updating the 24-year-old North American Free Trade Agreement (NAFTA).  Although the fine print remains to be parsed as Congress moves toward ratification, one important fact is already clear:  the renegotiated accord constitutes…

30 Dems' Socialist Ideas Will Tank Economy

The most striking difference between Democrats and Republicans is not their views on #MeToo, affirmative action or the Supreme Court. It's how they view the economy. Republicans deplore socialism. But more than half of Democrats view socialism favorably, according to a recent Gallup poll. The Democratic Party's left flank is turning the midterm elections…

 
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Question of the Week   
Which one of the following was the first 20th century presidential candidate to call for a Presidential Debate?
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Quote of the Day   
 
"Wait until Scranton hears about this.One of Joe Biden's ways of contrasting himself with President Trump has been to declare the election a battle of Park Avenue values vs. Scranton, Pa., values.Now we learn that Biden has secretly been playing footsie with China.The statement Wednesday night asserting that the former vice president was a willing and eager participant in a family scheme to make millions…[more]
 
 
—Michael Goodwin, New York Post
— Michael Goodwin, New York Post
 
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