Marc Thiessen

Download the Testimony in PDF form Chairman Cotton, Ranking Member Cortez Masto, and distinguished members of the Economic Policy Subcommittee of the Senate Committee on Banking, thank you for convening this hearing on “Economic Mobility: Is the American Dream in Crisis?” I am a visiting fellow at the American Enterprise Institute, a fellow at the National Review Institute, a senior editor at National Review, and a columnist for Bloomberg Opinion. This testimony reflects my own views and not those of any organization with which I am affiliated. It is an honor to be testifying before you. Our topic today, economic mobility, has [...]
Wed, Jul 17, 2019
Source: Marc Thiessen Category: MARC THIESSEN
Download the Testimony in PDF form Chairman Cotton, Ranking Member Cortez Masto, and members of the committee: Thank you for the opportunity to testify today. It is very encouraging to see this subcommittee take up the crucial question of economic mobility, and seek to understand it from a variety of angles and perspectives. We Americans have always prided ourselves on the extraordinary degree of mobility this country has made possible for its citizens—the idea that, with hard work and a little luck, an immigrant or a child of poor parents can start out with nothing and end up successful and rich. We still [...]
Wed, Jul 17, 2019
Source: Marc Thiessen Category: MARC THIESSEN
Join us for the Policy Simulation Library (PSL) DC meeting hosted by AEI's Open Source Policy Center to learn how computational simulation models are used to inform public policy decision-making. After updates from PSL contributors and users, Alexandra Minicozzi will present HISIM2, the new health insurance simulation model from the Congressional Budget Office (CBO). HISIM2 generates estimates of health insurance coverage and premiums and is used for the CBO's budget projections. Everyone is welcome to the PSL DC meeting regardless of technical knowledge or experience, although please expect modeling code and results to be presented. To learn more about PSL, visit www.PSLmodels.org and [...]
Tue, Jul 16, 2019
Source: Marc Thiessen Category: MARC THIESSEN
Presidents, politics, and the Federal Reserve Board governors: Is there a new PhD standard?
Good morning and welcome to today's AEI policy event, “Presidents, Politics and Federal Reserve Board Governors: Is there a new PhD standard?” My name is Paul Kupiec. I am an AEI resident scholar and the organizer of today's event. President Trump has had a particularly difficult time finding and confirming Federal Reserve Board governors. This past spring, two potential nominees were vigorously attacked in the press and both were forced to withdraw their names from consideration. A common line of attack was that these individuals lacked the proper “qualifications” for the job. Presidents, politics, and the Federal Reserve Board governors: Is there [...]
Tue, Jul 16, 2019
Source: Marc Thiessen Category: MARC THIESSEN
The longstanding debate over whether capital gains taxes should be indexed for inflation has resumed in full force. The arguments are familiar and the principles are unchanged. Indexing capital gains taxes by regulation would still be a mistake. In late June, the Trump administration began taking another look at the idea of issuing a regulation to index capital gains taxes without Congressional approval. (The administration considered similar action a year ago, but ultimately did not move forward). Last week, 15 members of the Senate Democratic Caucus urged the administration not to issue an indexation regulation. However, the president is reportedly ready [...]
Tue, Jul 16, 2019
Source: Marc Thiessen Category: MARC THIESSEN
The Pentagon, looking northeast with the Potomac River and Washington Monument in the distance, Master Sgt. Ken Hammond/U.S. Air Force
A strong U.S. military rests upon broad, bipartisan support among the American people translated through their representatives in Congress. Yet, amid the onset of great power competition and a generational conflict against jihadis, the Pentagon's atrophied outreach to Congress has undermined support for the U.S. military. The Pentagon, looking northeast with the Potomac River and Washington Monument in the distance,Master Sgt. Ken Hammond/U.S. Air Force Although the Pentagon's “Year Without a Briefing” has rightly garnered a great deal of attention, the American public isn't the only audience getting the cold shoulder from the Department of Defense. The Pentagon has failed to treat [...]
Tue, Jul 16, 2019
Source: Marc Thiessen Category: MARC THIESSEN
KOBANE, SYRIA—President Donald Trump entered office promising to reduce if not end America's military engagement in the Middle East. “Great nations do not fight endless wars,” he declared. Trump appears determined to keep his promise. In December 2018, he surprised his national-security team when he announced that he was going to pull troops out of Syria. “We have defeated ISIS in Syria, my only reason for being there,” he explained. “Our boys, our young women, our men—they're all coming back, and they're coming back now. We won. And that's the way we want it, and that's the way they want [...]
Mon, Jul 15, 2019
Source: Marc Thiessen Category: MARC THIESSEN
The economics team at Goldman Sachs has made another run at trying to determine whether official statistics are undermeasuring America's rapidly evolving digital economy. The bank now believes even more strongly that “technological change is not fully reflected in the real output statistics.” From a bottom-up perspective, there's all that missing growth from free digital goods. From a top-down perspective, Goldman economists note that the “growth of domestically generated profits and incomes (GDI) is outpacing that of GDP, a departure from earlier decades” and that “US profits generated in tax havens totaled over $300bn in 2018, some of which represents unmeasured [...]
Mon, Jul 15, 2019
Source: Marc Thiessen Category: MARC THIESSEN
Proponents of government-run health care sometimes frame the reform debate as a choice between universal coverage and a “free market” that leaves many people without needed medical services. This is a misleading depiction of the options. It is possible to provide universal coverage with privately-administered insurance plans, as demonstrated by Switzerland. The central unanswered question in the U.S. health system is how to discipline costs. The choice is between reliance on regulatory controls put in place by the federal government or injection of stronger financial incentives for consumers into the markets for medical services and insurance. Stating that cost control is the [...]
Mon, Jul 15, 2019
Source: Marc Thiessen Category: MARC THIESSEN
The federal Pell Grant program, once reserved for low-income college students, is increasingly providing aid to middle-class families. It's a radical transformation, worth billions of dollars annually, and it occurred with hardly any debate at all. You might even call it an accident. Recent proposals from relatively moderate Democrats like Pete Buttigieg or the think tank Third Way would go even further by providing Pell Grants to many families earning $100,000 or more. But these candidates and advocates are not upfront about this fact. Instead they simply call for doubling or tripling the maximum Pell Grant, an agenda that most people [...]
Mon, Jul 15, 2019
Source: Marc Thiessen Category: MARC THIESSEN