Tag Archives: GDP

Conservatives See Gains in Disputed Election


Townhall Review – November 7, 2020

Mike Gallagher looks at election night and sees one thing clearly, Republicans across the nation had a good night.

Hugh Hewitt talks with Byron York, of the Washington Examiner, about the election and the effect on the control of the Congress.

Dennis Prager wonders why Democrats are able to suddenly close a seemingly unclosable gap as time goes by.

Hugh Hewitt talks with retired Admiral James Stavridis about the military’s neutral role in elections and explains the Electoral College.

Hugh Hewitt and Jerry Bowyer talk about the good economic news in an enormously strong third quarter GDP.

Hugh Hewitt talks with Dr. Albert Mohler to discuss his latest book, “The Gathering Storm: Secularism, Culture, and the Church.”

Hugh Hewitt and GOP Chairwoman Ronna McDaniel talk about what’s next following the election.

Read More »

Jerry Bowyer: Biden’s Dangerous Spending Plan

The Obama administration was once defined by low growth and high spending. When Obama took office, our debt-to-GDP ratio was around 90 percent. Today, it has passed 105 percent.

While high debt is always a risk, you can to some extent outrun it with high growth. Under President Trump, while spending increased, it was partially offset by relatively high growth. The Obama years were bad for our economy, but our debt was low enough that we were able to avoid economic collapse.

Neither of these would be the case under a Biden administration. Our total national debt is higher than ever in peace-time, and Biden’s plan will only raise it dramatically further. He’s proposing over $5 trillion in new spending and the largest tax increase in 70 years.

Low growth, high debt and a growing tax burden: that’s a very dangerous combination, and that’s exactly what we should expect from a Biden presidency.

Read More »

Jerry Bowyer: A Vacancy on the Court and a Spending Pattern We Cannot Afford

Democrats and the media are attacking Republicans for pushing ahead with a new Supreme Court nominee while, allegedly, dragging their feet on a coronavirus relief bill.

There’s just one problem: the coronavirus bill put forward by Democrats is a dangerous expansion of the federal government that puts our economy at even more risk of fiscal collapse.

Though we don’t hear about it much anymore, the United States’ debt-to-GDP ratio has increased dramatically in the 21st century. When George W. Bush took office, we had a debt ratio of under 60 percent. Today, we have a debt ratio of over 100 percent—107 percent to be precise.

In simple English, that means our government owes more than our entire economy produces in a year. America simply cannot afford more of these immense spending bills.

Republicans are right to reject the Democrat’s short-sighted, ridiculous proposal. Imagine the spending binge if Democrats gain the presidency too.

Read More »

Jerry Bowyer: Look for America to Beat Expectations Yet Again

In the first quarter of this year, GDP declined at an annualized rate of -5 percent. While that drop might set off alarm bells and panic for some, the truth is that this is a testament to the resilience of the American economy.

Despite the widespread closures and spiking unemployment, we’re still producing 95 percent as much wealth as we were last year.

While some sectors have been devastated by the crisis, many of them are not massive drivers of growth. Don’t get me wrong, this painful national quarantine is hitting many people hard.

But this crisis has shown that at its core, our economy is resilient. And we can look forward to a strong finish once the shutdowns are ended and all the suppressed economic power is unbound.

All in all, look for America to beat expectations—yet again.

Read More »

Proft: The Question the Incomplete Data Demands


36 states have COVID-19 death rates of 1 or less than 1 per 100,000.

According to the CDC, the overall death rate in America in 2018 was 724 per 100,000.

For influenza and pneumonia it was 15 per 100,000. Projecting COVID-19’s lethality rate is tricky because of the lack of a denominator on the infected. However, CDC guesstimates 25 to 50 percent of infected are asymptomatic. There’s a good chance lethality rates could be much lower than current reporting indicates.

Bristol University risk management professor Philip Thomas projects once mitigation efforts result in a GDP contraction of more than 6.84%– more lives will be lost than saved. Studies of previous recessions suggest that for every 1 percent point increase in unemployment, the suicide rate increases by 1 per 100,000.

Given what we know about COVID-19 and about the lives economic ruin takes, is a prolonged shutdown the right call?

Read More »

Bowyer: Corona Virus and the Resumption of Economic Activity


A debate is raging among conservatives over our response to the coronavirus. On one hand you hear the point that the cure is going to be worse than the disease. On the other, we hear no price is too high to protect life.

One side is talking about thriving; the other, about surviving.

Of course, the sanctity of life is first, but this is a false choice. We can protect life without shutting down our entire economy.

How?

By making some commonsense distinctions based on risk and reward.

Think of a mosh pit at a night club … high risk, low reward. Our GDP gain almost nothing from it, but the virus gains a lot.

On the other hand, think about road or bridge construction. Lots of economic punch, low contagion risk.

President Trump should look in this direction. He should extend the principle of high and low risk reward zones to the broader economy as well.

I’m Jerry Bowyer.

Read More »

Jerry Bowyer: It’s Time to Pivot Back to Pro-Growth Economic Policies

We’ve seen warning signs over the past few months that economic growth is slowing down. Now it’s official: The latest GDP report shows growth in the last quarter at about 2 percent—well below historic averages.

President Trump’s tax cuts kicked in at the beginning of last year. By last summer the economy was booming.

But now the boom’s worn off. The president blames Fed tightening; most economists blame the trade war.

And, it’s hard to ignore the volatility in our policy environment which gives business what it dreads most: huge levels of uncertainty.

There’s a real danger now that the president could enter reelection with a sluggish economy. He should make a hard pivot back to pro-growth policies, leaning on advisors like Larry Kudlow who helped him deliver the boom of 2018.

A growing economy could be the key to delivering a reelection boom for 2020.

Read More »