211. This Week's Economic Eye Rolls: $34 Trillion Debt, Border Wall, & 22 States Raise Minimum Wages

Is building a border wall BIG government action? Can it work? Find out in episode 42 of This Week’s Economy podcast.

Hello, friends! Thank you for choosing to be a newsletter subscriber, whether to the extensive paid or complimentary version. I believe you’ll find a lot of value in today’s content, so let’s get to it.

Today, I unveil what the new national debt number, increased minimum wage across many states, illegal immigration concerns, and much more mean for the economy and your life.

Watch the episode by clicking here or below:

I cover the following news in 20 minutes:

1) National:

• Gross federal debt reaches $34 trillion:

• Immigration data shows there were more illegal immigrants than American births in August 2023

• Why inflation will never be transitory due to ongoing issues within the Fed, and my thoughts on the policies presented by current GOP candidates

2) States:

• 22 states increased the minimum wage, which is a bad idea

• Important issues on the Texas Republican primary ballot

• Key opportunities for welfare reform in states to lift people out of poverty

3) My other work:

• Two recent interviews with NTD News discussing interest rates potentially falling and what we can expect from this year's economy

• Recent op-ed published at AIER about what America can learn from new Argentine President Javier Milei

• Radio interview with Newell Normand on WWL NOLA on changes in tax code in 2024

• Commentary at The Center Square on how the record spending increases in Texas missed an opportunity to put property taxes on a path to elimination.

• Attend American Economic Association meetings in San Antonio this weekend

Check out my latest Let People Prosper episode with Dr. Mark Calabria on housing issues during the lockdowns and don’t miss next Monday’s episode which will feature Adam Thierer on permissionless innovation.

Giveaway Winners!

Congratulations to the three lucky winners:

1. Helen Cordle

2. Dorothy Haubert

3. Jacob Felix

Each of them won a complimentary subscription to the paid version of this newsletter and a copy of Lexi Hudson’s excellent book, “The Soul of Civility.”

Thank you to the dozens more who entered the giveaway and rated my podcast. I hope to do more giveaways in the future, so stay tuned!

Quote of the Week:

Bible Verse of the Week:

Finally, I want to leave y’all this week with this important reminder:

• Jesus is the answer, not politicians.

• When politicians understand this, they’ll want to make freedom the top priority. When the public understands this, they’ll see through the facade of most politicians.

• Unfortunately, politicians think they are the first resort for every problem instead of what ought to be a far last.

• The tradeoffs of politicians’ actions are always higher than what Jesus would do, which better evaluating would provide paths to let people prosper.

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