Ezra Klein recently took up the question of whether the Democratic party is out of ideas. I tend to agree with Yuval Levin that both the Left and the Right haven’t modernized their agendas. But there might be a more pressing problem for Democrats: Are they running out of rigorous, clear-headed data analysts, too?
Republicans now have the opportunity and the responsibility to govern in accordance with their longstanding principles of civic decency and egalitarian upward mobility based on merit instead of privilege or government fiat.
Additional legal immigrants will bolster GoBank. If this partial foray into banking works out, Wal-Mart may yet again attempt for a bank charter of its own. And to the dismay of the financial-services industry, it might succeed.
A ton of virtual ink has been spilled over Obama Administration advisor Jonathan Gruber’s admission that he and others intentionally misportrayed the effects of the Affordable Care Act to facilitate its passage. Here I want to explain how Gruber’s characterizations of the “stupidity of the American voter,” as well as subsequent comments by Josh Barro, are incorrect on the substance.
For its part, the Fed seems determined to see wages rise before it begins to normalize its benchmark rate. Given the wide gap between zero and some neutral rate, waiting for a signal from wages will be too late.
Since Americans are less likely than Europeans to worry about inequality, it should come as no surprise that we redistribute less than in continental Europe. Rattner does not like that we distribute less than he would prefer and that our taxation levels—as progressive as in Europe—are lower than he wants. But the public does not share his preferences, and he has given them no reason to reconsider their views.
The 114th Congress should prevent the Labor Department from raising the wage ceiling on required overtime pay. Instead, it should help women by passing the Working Families Flexibility Act and sending it to the president's desk for his signature.
Maryland and Massachusetts both have lower GDP growth and higher unemployment rates than the U.S. average. Voters in both states elected Republican governors who ran on platforms of economic growth. Can Massachusetts governor-elect Charlie Baker and Maryland governor-elect Larry Hogan deliver?