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Despite recent reductions in the federal deficit, 2016 could be a fiscal turning point, after which the deficit as a share of GDP resumes its rise.

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Financial Times

The continued decline of the labor share of income, brought on by technological progress, will be a central dynamic, if not the central dynamic, of the world’s economies and societies in the 21st century.

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According to the American Farm Bureau Federation, the inflation-adjusted cost of a classic Thanksgiving dinner for ten people this year is cheaper than last year, and 26% below the cost in 1986.

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Republicans won a resounding victory in the midterm election in November 2014, but that was just the beginning of their work. To be trusted with control of the White House in 2017, Republicans will need to demonstrate that they have the strategic vision, tactical skill, and ability to execute on a coherent agenda between now and the next presidential election, which is less than two years away.

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The real disappointment of President Obama’s executive action on immigration is that it distracts Congress and the American public from the far more important issue of the need to reform the entire US immigration system.

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Image Credit: mac_ivan (Flickr) (CC-BY-2.0)

The Euromaidan protests, which began one year ago, evolved into a movement that at its finest could serve as a prototype for a kind of mature democracy Ukraine may one day become.

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U.S. President Obama announces executive actions on immigration during nationally televised address from the White House in Washington

If the president’s primary objective was fixing our broken immigration system, he should have been willing to wait until the Republican-led Congress takes power in a few weeks and challenged it to act on a series of practical reforms.

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The wave of recent retirements, along with the changing composition of US households, have coincided with the decline in US median household income.

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AEI President Arthur Brooks and India’s acclaimed author and commentator Gurcharan Das discuss the dynamic between making money and doing good.

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President Barack Obama announces executive actions on U.S. immigration policy during a nationally televised address from the White House in Washington, November 20, 2014. Reuters

Providing executive amnesty to certain illegal immigrants is a sound social policy that helps  families and is unlikely to have negative political repercussions.

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President Barack Obama shares a laugh with senior advisors during a meeting in the Roosevelt Room of the White House, Nov. 17, 2014. (Official White House Photo by Pete Souza)

Obama’s immigration action is based on no statutory authority, but is instead an expansion of the idea of “prosecutorial discretion” — the notion that federal government can’t catch all scofflaws, and so it must set priorities.

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