President Obama's budget proposals for fiscal year 2014 will now kick-start a renewed round of negotiations in Congress that, at best, could result in a much-coveted grand bargain or, at worst if the...

Contrary to widespread belief, America is not broke. Our calculations suggest that total domestic net worth was as much as 550% of GDP in 2011. America is not deep in debt to foreigners either. Net...

It is impressive that in the first quarter, when households were hit by higher taxes and everyone had to contend with a spike in gasoline prices, GDP probably grew at an annualised rate of at least 3...

The manufacturing sector has added half a million jobs over the past few years, prompting speculation that, after a decade of offshoring production to lower cost countries like China, firms are now...