Blog Medium Image 2017-05-23T19:06:04+00:00

In support of Nielsen and Warsh

I write in support of Kirstjen Nielsen, President Trump's nominee for Secretary of Homeland Security, and to recommend the President nominate Kevin Warsh for Chairman of the Federal Reserve. I worked with both of them in the Bush White House, and they are in both cases the best candidates for the job. First, a few words on Kirstjen. She worked [...]

By | Wednesday, 25 October 2017|

Senator Santorum was right on per-capita caps

Glenn Kessler of the Washington Post performs a valuable service with his Fact Checker column. He plays the referee, holding policymakers to account for the accuracy of what they say, and working hard to research, understand, and educate his readers on the veracity of a range of important policy questions. His body of work elevates the quality of policy debate. [...]

By | Friday, 29 September 2017|

Is the Paris Agreement QTIIPS?

Both President Obama’s 2016 signing of the Paris Agreement on climate change and President Trump’s withdrawal from that agreement today fit into a category I will label as QTIIPS. QTIIPS stands for Quantitatively Trivial Impact + Intense Political Symbolism. QTIIPS policy changes provoke fierce political battles over trivially small policy impacts. Passionate advocates on both sides ignore numbers and policy [...]

By | Thursday, 1 June 2017|

The $2T Mulvaney-Mnuchin disagreement

Kate Davidson and Richard Rubin have an excellent article in today's Wall Street Journal examining what President Trump's economic advisors are now saying about how the President wants to allocate $2 trillion in budget benefits they think will result from faster economic growth. I wrote about this question Tuesday. Trump Budget Director Mick Mulvaney testified at the House and Senate Budget [...]

By | Thursday, 25 May 2017|

President Trump’s tax reform vs. his balanced budget

President Trump has a $2 trillion hole in his fiscal policy proposals. His numbers don’t add up. This creates a conflict between two of his fiscal policy goals: tax reform and balancing the budget. Let’s look at three elements of President Trump’s economic policy and how they interact: Last month he proposed tax reform with most of the key numbers left [...]

By | Tuesday, 23 May 2017|

re: The President’s debt tweet

For the classes I teach at Stanford's Graduate School of Business I make my students write policy memos to a friend or family member as if that person was a Member of Congress. I have done the same here. These memos are similar in style to those I used to write for President George W. Bush and Senate Majority Leader Trent Lott. [...]

By | Saturday, 25 February 2017|