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The Private Sector Grew. Government Shrank. The Headline Blurred Both.

August 7, 2026August 7, 2026 - by Michael Phillips - Leave a Comment

The U.S. economy lost 23,000 jobs in July, primarily due to a 53,000 decrease in local government employment, particularly in education. However, private payrolls rose by 30,000. This complex picture indicates a cooling labor market, with misleading headline statistics overshadowing the nuances of private sector growth and labor force participation decline.

Congress Discovers the Laffer Curve—About 50 Years Late

January 31, 2026January 31, 2026 - by Michael Phillips - Leave a Comment

A recent congressional analysis has reignited discussion on the Laffer Curve, indicating that tax rates above 50-55 percent may diminish total revenue and inhibit economic growth. This challenges longstanding Democratic views on taxing the wealthy, emphasizing that broader tax bases and economic incentives are crucial for effective revenue generation.

BREAKING: U.S. Trade Deficit Falls to $52.8 Billion — Lowest Since 2020, Defying Tariff Doomsayers

December 15, 2025December 15, 2025 - by Michael Phillips - Leave a Comment

In September 2025, the U.S. trade deficit significantly decreased to $52.8 billion, the lowest since June 2020. This improvement, driven by a 3% rise in exports, contradicts criticisms that tariffs are harming the economy. Despite concerns about long-term effects, the data suggests tariffs are influencing trade dynamics positively.