106. Where Will You Stand? I Stand With Free People and Free Markets.
This newsletter dives into a number of key economic issues and provides a free-market approach so governments get out of the way to let people prosper.
Hello Friend,
Happy 2023! It’s a new year and some take on resolutions. How are yours going so far? I don’t do resolutions because I choose to do those things on my list throughout the year instead of taking them on at the start of the year and then often quitting them. This can lead to a vicious downward cycle for your mental models. Stay strong!
I also have difficulty making resolutions or goals for the year or years because God always surprises me with gains well above my expectations, so why would I limit my expectations? And even though 2022 had ups and downs, I can see how it was a building year for me in so many years, which “build” was my word for the year. My word for the year in 2023 is “grace,” which I need to have more for myself and others but ultimately I need to view myself through the grace that God gives me every day. I’m believing that 2023 is going to be an amazing year for me and my family, and I pray for the same for you and yours.
With that said, I think that the economy in 2023 is going to be a rocky ride with a more severe recession, job losses, elevated inflation, and many market corrections as the inflated booms by government failures bust. I wrote about this recently in the Washington Examiner and talked about it on my recent Let People Prosper Show.
If you like what I’m writing about and the Let People Prosper Show podcast, please subscribe and share with your friends and family. Thank you!
Hot Take: I recently relaunched my Let People Prosper Show with new and improved sound and video for each of the 20+ episodes, which have fantastic guests who I think you’ll learn much from as I did.
Let People Prosper Show: Please subscribe on YouTube, Apple Podcasts, Spotify, and Google Podcasts.
Recent guests have included Scott Lincicome of the Cato Institute on trade and The New American Worker, Angela Rachidi of the American Enterprise Institute on The American Renewal and poverty mitigation, James Quintero of the Texas Public Policy Foundation on strengthening the Texas Model and eliminating property taxes, and Dr. John Cochrane of the Hoover Institution on The Fiscal Theory of the Price Level and the causes of inflation. Please listen to each of them as they provide so much information which I think you’ll want to soak up.
Upcoming guests include Dr. Benjamin Powell of the Free Market Institute at Texas Tech University on the gains from immigration and trade, David Bahnsen on the financial situation and economic causes for inflation, Jason Isaac on the master resources of oil and gas needed for flourishing and fewer blackouts in Texas, and Sen. Mike Braun on budget reforms and fiscal sanity. Don’t miss them!
If you want to get an overview of these episodes, check out these short videos of about 1 minute each where you’ll learn something and see which longer episodes you want to watch or listen.
Latest Interviews
Don’t miss my latest television and radio interviews and past speeches on my website here.
TAKE ON STATE ECONOMIES & POLICIES
Occupational licensing creates huge costs of govt regulation in my latest co-authored research paper.
Every state must pass school choice now! Why not?
Truth! Good overview of my philosophy of government.
A good guide for Texas and every state to let people prosper.
Good reminder that a surplus is just over-collected taxpayer dollars and should be returned to taxpayers, preferably by cutting tax rates which benefits everyone over raising exemptions which benefits a few.
More evidence: Texas > California
TAKE ON U.S. ECONOMY & POLICIES
Excessive spending contributing to the national debt is from Republicans and Democrats. Need a strong dish fine limit like the Responsible American Budget.
Some people care about the facts, don’t believe spin from Biden.
More reason to End the Fed.
Yep! Too many on the left and right don’t get this anymore.
Inflation is coming down but remains way too high because of government failures.
CLOSING TAKE
There have been multiple state think tanks that have championed the Responsible/Conservative/Sustainable Budget approach of a spending limit with the maximum growth of the budget based on the rate of population growth plus inflation, which is a reasonable measure for the average taxpayer’s ability to pay for spending (updated list over time here):
Texas: Texas Public Policy Foundation recently released its fifth Conservative Texas Budget, with the first four being successful, and Responsible Local Budgets.
Iowa: Iowans for Tax Relief Foundation will soon release its third Conservative Iowa Budget, with the first two being mostly successful.
Michigan: Mackinac Center will soon release its second Sustainable Michigan Budget, with the first one not successful.
Florida: James Madison Institute will soon release its first Conservative Florida Budget.
Louisiana: Pelican Institute will soon release its first Responsible Louisiana Budget.
Montana: Frontier Institute released one successful Conservative Montana Budget and one report on unfinished Responsible Local budgets.
Alaska: Alaska Policy Forum recently released its third Responsible Alaska Budget, with the first two not successful.
South Carolina: South Carolina Policy Council recently released its first South Carolina Conservative Budget.
Kansas: Kansas Policy Institute recently released its second Responsible Kansas Budget, with the first one not successful.
Tennessee: Beacon Center recently released its second Conservative Tennessee Budget, with the first one being successful.
Mississippi: Mississippi Center for Public Policy recently released its first Responsible Mississippi Budget.
Colorado: Independence Institute will likely release its first Responsible Colorado Budget this year or next.
Americans for Tax Reform will soon release a map with every state's Sustainable Budget based on this approach.
Reach out to me if you’d like to create a budget for your state. Spending limits and restraint is an important part to let people prosper.
We’ve got too much federal spending, national debt, and unfunded liabilities which are unsustainable!
We recently celebrated the work of MLK, Jr.. This is one of my favorite quotes of his, hence the title of this post.
Ludwig Von Mises gives us a good point for caution in today’s economy.
I’m praying that we have more righteousness and love for all of us.
Let people prosper.
