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AEI's weekly digest of top commentary and scholarship on the issues that matter most

Threats to Economic Liberty

Protectionism Is Running Amok in the US

March 23, 2024

Last week, President Joe Biden declared that it was “vital” for US Steel to remain “domestically owned and operated” as Nippon Steel looks to complete its acquisition of the American company. Michael R. Strain shows why Biden’s protectionist interference has no sound economic or national security basis.

 

 

A new updated financial outlook from the Congressional Budget Office projects that public debt will increase to 127 percent of gross domestic product by 2039. Mark J. Warshawsky explains why we could face a fiscal crisis far sooner than this overly optimistic model.

 

Millennials tend to be overly pessimistic about America’s future. Will Rinehart argues that our country’s economic fundamentals, founding principles, and technological dynamism still give us the resources to realize a better tomorrow.

 

The 2024 presidential election will be shaped by unknowns, as there are no historical precedents for a rematch between two men who have both held the office and both happen to be the oldest candidates in history. Matthew Continetti poses four questions that will decide the race, including the impact of Donald Trump’s trials and the candidates’ health.

 

How important is polling showing Republicans gaining unprecedented support among non-white voters? Chris Stirewalt looks to American history to question the logic of characterizing all non-white voters similarly.

Evaluating Guaranteed Income Projects

Dozens of cities across the US have launched guaranteed income pilot programs, providing cash to low-income residents with no strings attached. The programs are designed as a prototype for a nationwide universal basic income. Many have been funded by a mix of private, corporate, and foundation philanthropy or with leftover pandemic relief money from the federal government. In a new COSM Perspectives on Opportunity report, Leslie Ford provides historical context for guaranteed income policies and lays out a rubric for assessing the pilot programs. Past evidence suggests guaranteed income programs tend to discourage work, increase government dependency, and worsen outcomes for children. Policymakers and researchers should carefully track these consequences for the current generation of experiments before using taxpayer money for more permanent policies.

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QUOTE OF THE WEEK

America’s liberal and leftwing activists have unfortunately fallen under the sway of the racial radicals. And that has jeopardized the Democrats’ ability to win back the working-class voters who have deserted them; it has created new divisions over crime and education between blacks and Asians and blacks and Hispanics; and it has made it more difficult to pass legislation that would aid working Americans, including America’s blacks.

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