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American Focus > Blog > Economy > My Weekly Reading for October 6, 2024
Economy

My Weekly Reading for October 6, 2024

Last updated: October 6, 2024 8:20 am
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My Weekly Reading for October 6, 2024
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Fiona Harrigan, a well-respected writer for Reason, recently discussed a bill that had both positive and negative implications for immigration reform in the United States. The bill included some reforms that would have benefited certain groups, such as additional visas and work authorizations for family members of visa holders, protections for Documented Dreamers, and safeguards for Afghans evacuated to the U.S. after the Taliban takeover. However, the bill also had drawbacks, particularly in its impact on the asylum-seeking process. It would have limited access to asylum, allocated funds for more detention capacity and deportation flights, and created a screening process that bypassed appearances before an immigration judge.

Kimberly Clausing and Maurice Obstfeld, from the Peterson Institute for International Economics, highlighted the negative effects of tariffs on the economy. Tariffs, as taxes on imports, raise prices for households and businesses that rely on imported goods. This protectionist approach reduces the benefits of trade and can lead to higher prices for both imported and domestically produced goods. While tariffs may be intended to protect domestic industries, they ultimately result in higher costs for consumers.

Another perspective on government spending and dependency came from J.D. Tuccille at Reason. A report from the Economic Innovation Group revealed that government transfers make up a significant portion of Americans’ personal income, with spending on Medicaid expansion exceeding expectations. The report emphasized that the growing population of seniors, who rely on programs like Social Security and Medicare, is a major factor in the increase in government dependency.

Lastly, Andrew P. Napolitano, writing for antiwar.com, discussed the potential consequences of revealing evidence of torture and war crimes. The Pentagon’s prosecutors cautioned against disclosing all the evidence, as it could lead to indictments of individuals involved in war crimes, including former President George W. Bush. This raises questions about accountability and the implications of exposing such atrocities.

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In a publication by Michael R. Strain, the shift towards protectionism and trade wars post-2017 was evaluated. The notion that free trade leads to job losses was challenged, with evidence suggesting that trade liberalization does not significantly impact employment levels. Instead, open trade focuses on wages and consumption, allowing nations to specialize and increase productivity, leading to higher wages and a greater variety of consumer goods.

Overall, these articles offer a diverse range of perspectives on immigration, trade, government spending, and accountability. Each brings valuable insights into key issues affecting the economy and society, highlighting the complexity of policy decisions and their far-reaching consequences.

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