"If you find yourself in a hole, stop digging."

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November 13, 2024

Welcome to The Lighthouse ([link removed]) , the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.

Dear Readers,

With Trump’s next term set to begin, the potential for both promise and challenge lies ahead. From decisive proposals to reduce federal spending to intricate economic situations developing abroad, the next four years are sure to bring significant changes to both policy and governance.

As we look to the road ahead, several pivotal issues likely show us the direction of the new administration’s policies. In “The Two-Trillion-Dollar Challenge,” Craig Eyermann explains the economic challenges facing the new administration and discusses a proposal to cut federal spending by $2 trillion—a goal that could dramatically change not only the size but also the role of government. Meanwhile, in “Missed the Mark: Why Pollsters Misjudged the 2024 Election,” William Shughart II examines how pollsters failed to anticipate the results in battleground states, pointing out the difficulties of predicting voters’ preferences.

Finally, Benjamin Powell explores how Cuba’s economic model has resulted in widespread blackouts despite no severe weather … but who needs severe weather when central planning can wreak economic destruction just as well?

Jonathan Hofer
Managing Editor

Top picks this week
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** The Two-Trillion Dollar Challenge ([link removed])
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** by Craig Eyermann
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“If you find yourself in a hole, stop digging.” This old proverb sheds new light on the abysmal fiscal situation in which our government finds itself.
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** Missed the Mark: Why Pollsters Misjudged the 2024 Election Part 1 ([link removed])
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** by William F. Shughart II
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Why did the polls wildly underestimate Donald Trump’s popular vote margin … and his dominance of the Electoral College?
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** Cuba’s Real Power Problem Is Socialism ([link removed])
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** by Benjamin Powell
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Until it scraps its centrally planned system and grants Cubans a large measure of economic freedom, Cuba’s economic and power problems will continue.
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** FEATURED BOOK
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** Good as Gold ([link removed])
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** How to Unleash the Power of Sound Money ([link removed])
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** Judy Shelton
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With clarity and moral courage, Judy Shelton has written a must-read for anyone invested in the future of the economy. You’ll walk away with more answers than questions—a rare experience for anyone who reads about monetary policy.
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