Spending

From Branches to Booms

A Bold Vision for Capital Gains Tax Reform The past week delivered a stark reminder that markets are still groping for solid ground. Gold, after climbing toward $5,300 an ounce in a frenzy of inflation-hedge buying, cratered to around $4,890-a 10% wipeout in a matter of days. Silver suffered far worse, plunging roughly 35% from peaks above $130. Bitcoin tested $78,000 after teasing six figures, Ethereum followed suit, and equities took their lumps too: the Russell 2000 shed more than 7%, Nasdaq proxies dropped 4–5%, and the broader indices followed in lockstep. One widely shared thread on X captured the carnage…

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Making the American Dream Affordable Again

Embracing the RSC Plan for Lower Costs and Stronger America In Texas, where families like mine are still feeling the sting of high home prices, energy costs, and healthcare bills after four years of Biden-Harris policies, the American Dream has seemed farther away than ever. But the Republican Study Committee (RSC) has delivered a powerful response: the “Making the American Dream Affordable Again” framework for the next reconciliation bill. Unveiled on January 13, 2026, this isn't just another wish list-it's a vetted, Byrd Rule-tested menu of nearly 70 policy options, with about 70 percent already introduced as bills or passed by…

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From Obamacare Failures to GOP Fixes

The GOP's Path to Overhauling Democrats Failed Health Legacy Congress has adjourned for the holiday recess without extending the enhanced Affordable Care Act (ACA) premium tax credits, which expire on December 31, 2025. This locks in a reversion to the original 2010 ACA framework for 2026 marketplace plans, with projected sharp premium increases and potential coverage losses. Republican alternatives-the Lower Health Care Premiums for All Americans Act (H.R. 6703) (passed by the House on December 17) and the Health Care Freedom for Patients Act of 2025 (S. 3386) (stalled in the Senate)-represent market-oriented responses but do not include subsidy extensions. Critically,…

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Breaking Down the NDAA

Analysis of the FY2026 National Defense Authorization Act Executive Summary The National Defense Authorization Act (NDAA) for Fiscal Year 2026 (S. 1071, as amended by House Rules Committee Print 119–16, released on Sunday) authorizes $900.6 billion in defense spending - a $8 billion increase over the Trump administration’s request while remaining within the spirit of the Fiscal Responsibility Act via targeted waivers. This omnibus legislation funds military modernization, personnel welfare, and deterrence against China while incorporating partisan riders on social and cultural issues. As the 64th consecutive NDAA, it reflects bipartisan consensus on core security but reveals deep divides over culture-war…

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America’s Healthcare Finance Crisis

America’s Healthcare Finance Crisis: Challenges, Costs, and Solutions America’s healthcare finance system faces a critical crisis, with Medicaid spending projected to rise from $1 trillion in 2025 to $1.4 trillion by 2034, straining budgets and threatening hospital viability. Safety-net hospitals, particularly in Medicaid expansion states, grapple with 55-65% uncompensated or low-compensated care, driven by uninsured patients, low Medicaid reimbursements, and U.S.-born children of illegal aliens (4.4 million, costing $35 billion annually). These children, granted citizenship under the 14th Amendment, inflate Medicaid costs. The One Big Beautiful Bill Act (OBBBA, 2025) introduces reforms-Medicaid cuts, noncitizen restrictions, work requirements, and immigration enforcement-but further…

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Medicaid Reality vs. Rhetoric

Medicaid "Cuts" Debate: Fiscal Reality vs. Political Rhetoric The 2025 budget reconciliation bill, H.R. 1, the "One Big Beautiful Bill Act" (OBBBA), has sparked intense debate over Medicaid funding. A July 4, 2025, Wall Street Journal (WSJ) opinion piece, "No One Is ‘Gutting’ the Safety Net", argues that Republican proposals are pragmatic reforms to ensure Medicaid’s sustainability, not destructive cuts. In my columns, "Monday Misleading Math" (June 30, 2025) and "The Myth of Medicaid Cuts: Explaining Baseline Budgeting" (March 2, 2025), I reinforce this, framing the changes as reductions in growth, akin to the 1990s Medicare reforms. This column synthesizes these…

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A Precarious Fiscal Precipice

The Fiscal Trifecta Threatening America’s Future The United States stands at a precarious fiscal precipice, grappling with three interlocking threats: defaulting on the national debt, the looming insolvency of Social Security and Medicare, and the inexorable rise of long-term debt. Each challenge carries distinct origins, timelines, and consequences, yet their convergence forms a fiscal time bomb that threatens economic stability and social welfare. With Social Security’s insolvency now a mere eight years away-compared to a 36-year horizon in 2005-the urgency for reform has reached a critical juncture. Alan Greenspan’s 1996 warning of “truly wrenching” adjustments resonates with renewed force, as procrastination…

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Fisking Sen. Ron Johnson’s 2025 Budget Reconciliation Analysis

Analysis of "FY 2025 Budget Reconciliation: Facts, Figures, and Analysis" by Senator Ron Johnson Introduction Senator Ron Johnson (R-Wis.) authored the "FY 2025 Budget Reconciliation: Facts, Figures, and Analysis" report, released on June 18, 2025, which examines the U.S. federal budget’s fiscal challenges. Notably, Johnson is also recognized for producing an immigration chart that gained historical significance during a July 13, 2024, campaign rally in Butler, Pennsylvania. Former President Donald Trump, unscripted, turned to reference this chart on illegal immigration-originally shared with him by Johnson during an April 2024 plane ride-when he was grazed by a bullet in an assassination attempt.…

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Learning About Congressional Budgeting

Charting America’s Budget A Tale of Reconciliation, Rescissions, and Deficit Debates Before we get into the heart of this lesson, let's review how a bill becomes a law. https://www.youtube.com/watch?v=SZ8psP4S6BQ In the heart of Washington, D.C., in June 2025, a fiscal tempest brews, captivating lawmakers, analysts, and citizens. H.R. 1, the “Big Beautiful Bill,” a daring reconciliation bill passed the House, promising to extend Trump tax cuts and carve $1.6 trillion from federal spending. Yet, the Congressional Budget Office (CBO) sounds a warning, estimating a $4 trillion deficit increase, igniting fierce debate. Meanwhile, a “DOGE rescissions package,” driven by the Department of…

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Friday Fiscal Fixes

Reforming Revenue Toward a Resilient and Investment-Oriented Economic Policy Policy Recommendations for U.S. Fiscal Reform: Tariffs, Capital Gains, and Income Taxes 📈 "Strategic tax design is not merely a budgetary exercise-it is a nation-shaping endeavor." The United States stands at a fiscal crossroads. With federal outlays approaching $6.9 trillion, annual deficits nearing $1.8 trillion, and national debt eclipsing $33 trillion, the country faces compounding challenges: an aging population straining entitlement systems, interest costs crowding out discretionary spending, and a tax system ill-equipped to drive sustainable growth. The April 22, 2025 analyses-Tuesday Trajectories and Tuesday Takeaways-offer a dual warning: fiscal paths are…

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