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Economics

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Not so long ago, President Joe Biden was being talked of as a transformative president, a second Franklin D. Roosevelt in terms of the domestic agenda he would enact. And there was substance to the claim. Early in his presidency, Biden had passed a $1.9 trillion stimulus package. While his majorities in both houses of... Read More
"Extraordinary, isn't it? I've been hearing all about COP," said the queen to the duchess of Cornwall. "Still don't know who is coming. ... We only know about people who are not coming. ... It's really irritating when they talk but they don't do." Queen Elizabeth II was expressing her exasperation at the possible number... Read More
Last Friday, in a triumph for transnationalism, 136 nations, including the U.S., agreed to mandate a global corporate income tax for all nations that will not be allowed to fall below 15%. "Virtually the entire global economy has decided to end the race to the bottom on corporate taxation," said Treasury Secretary Janet Yellen, who... Read More
"Follow the money!" The old maxim is always sound advice when assessing the motives of those advancing bold agendas for the benefit of mankind. Invariably, the newest progressive idea entails a transfer of wealth from the taxpaying classes of Western nations to our transnational, global and Third World elites. For the masters of the universe,... Read More
On taking the oath of office, Jan. 20, Joe Biden may not have realized it, but history had dealt him a pair of aces. The COVID-19 pandemic had reached its apex, infecting a quarter of a million Americans every day. Yet, due to the discovery and distribution of the Pfizer and Moderna vaccines, the incidence... Read More
In fiscal year 2020, which ended on Sept. 30, the U.S. government set some impressive new records. The deficit came in at $3.1 trillion, twice the previous record of $1.4 trillion in 2009, which was set during the Great Recession, and three times the 2019 deficit of about $1 trillion. Federal spending hit $6.5 trillion,... Read More
Under fire for his handling of the coronavirus pandemic, President Donald Trump, his campaign and his party are moving to lay blame for the 80,000 U.S. dead at the feet of the Communist Party of China and, by extension, its longtime General Secretary, President Xi Jinping. "There is a significant amount of evidence" that the... Read More
The same day the number of U.S. dead from the coronavirus disease hit the 15,000 mark, we also crossed the 15 million mark on the number of Americans we threw out of work to slow its spread and "bend the curve." For each American lost to the pandemic, 1,000 Americans have lost their jobs because... Read More
Easter may not bring America the victory in the war against the coronavirus pandemic that President Donald Trump anticipated. But in this Holy Week, we may be reaching our Saratoga moment, our turning point. While New York state reported a record number of deaths from the virus on Tuesday, over 1,800, new hospitalizations were down.... Read More
"We cannot let the cure be worse than the problem itself," tweeted the president on Sunday night, adding that, after the current 15-day shutdown, "we will make a decision as to which way we want to go." President Trump is said to be privately expressing a deepening concern at the damage the coronavirus shutdown is... Read More
"It's a war," says President Donald Trump of his efforts to contain the coronavirus pandemic, and likening his role to that of "wartime president." New York Governor Andrew Cuomo welcomed the president's claim to his commander in chief role in the crisis and his resolve: "The president and I agreed yesterday... we're fighting the same... Read More
As his limo carried him to work at the White House Monday, Larry Kudlow could not have been pleased with the headline in The Washington Post: "Kudlow Contradicts Trump on Tariffs." The story began: "National Economic Council Director Lawrence Kudlow acknowledged Sunday that American consumers end up paying for the administration's tariffs on Chinese imports,... Read More
"Make America Great Again!" will, given the astonishing victory it produced for Donald Trump, be recorded among the most successful slogans in political history. Yet it raises a question: How did America first become the world's greatest economic power? In 1998, in "The Great Betrayal: How American Sovereignty and Social Justice Are Being Sacrificed to... Read More
From Lincoln to William McKinley to Theodore Roosevelt, and from Warren Harding through Calvin Coolidge, the Republican Party erected the most awesome manufacturing machine the world had ever seen. And, as the party of high tariffs through those seven decades, the GOP was rewarded by becoming America's Party. Thirteen Republican presidents served from 1860 to... Read More
Donald Trump's election triumph is among the more astonishing in history. Yet if he wishes to become the father of a new "America First" majority party, he must make good on his solemn promise: To end the trade deficits that have bled our country of scores of thousands of factories, and to create millions of... Read More
Is America still a serious nation? Consider. While U.S. elites were denouncing Donald Trump as unfit to serve for having compared Miss Universe 1996 to "Miss Piggy" of "The Muppets," the World Trade Organization was validating the principal plank of his platform. America's allies are cheating and robbing her blind on trade. According to the... Read More
In Tuesday's indictment of free trade as virtual economic treason, The Donald has really set the cat down among the pigeons. For, in denouncing NAFTA, the WTO, MFN for China and the Trans-Pacific Partnership, all backed by Bush I and II, Mitt Romney and Paul Ryan, Trump is all but calling his own party leaders... Read More
Republican hawks are aflutter today over China's installation of anti-aircraft missiles on Woody Island in the South China Sea. But do these Republicans, good free-traders all, realize their own indispensable role in converting an indigent China into the mighty and menacing power that seeks to push us out of Asia? Last year, China ran up... Read More
On arrival in La Paz, Pope Francis was presented by Bolivian President Evo Morales with a wooden crucifix carved in the form of a hammer and sickle, the symbol of Lenin, Stalin, Mao and Fidel. Had Pope John Paul II been handed that crucifix, he might have cracked it over Evo's head. For John Paul... Read More
As Middle America rises in rage against "fast track" and the mammoth Obamatrade deal known as the Trans-Pacific Partnership, The Wall Street Journal has located the source of the malady. Last Monday's lead editorial began: "Here we go again. In the 1990s Pat Buchanan launched a civil war within the Republican Party on a platform... Read More
In the first quarter of 2015, in the sixth year of the historic Obama recovery, the U.S. economy grew by two-tenths of 1 percent. And that probably sugarcoats it. For trade deficits subtract from the growth of GDP, and the U.S. trade deficit that just came in was a monster. As the AP's Martin Crutsinger... Read More
The GOP swept to victory in November by declaring that this imperial presidency must be brought to heel, and President Obama's illicit seizures of Congressional power must end. That was then. Now is now. This week, Congress takes up legislation to cede His Majesty full authority to negotiate the largest trade deal in history, the... Read More
"Free trade results in giving our money, our manufactures, and our markets to other nations," warned the Republican Senator from Ohio and future President William McKinley in 1892. "Thank God I am not a free-trader," echoed the rising Empire State Republican and future President Theodore Roosevelt. Those were the voices of a Republican Party that... Read More
Last November, Republicans grew their strength in Congress to levels unseen since 1946. What united the party and rallied the nation was the GOP's declared resolve to stand up to an imperious president. Give us powerful new majorities, said John Boehner and Mitch McConnell, and we shall halt these usurpations of Congressional power. And, so,... Read More
"Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains." Jefferson's brutal verdict comes to mind in the fierce debate over inversions, those decisions by U.S. companies to buy foreign firms to move their headquarters abroad and renounce their U.S.... Read More
News that Pfizer, the world's largest pharmaceutical company, plans to buy Britain's AstraZeneca for $106 billion, renounce its U.S. citizenship, and declare itself a British company, has jolted Congress. Pfizer is being denounced as disloyal to the land of its birth, and politicians are devising ways to stop Pfizer from departing. Yet Pfizer is not... Read More
The Congressional Budget Office did not exactly say Obamacare would cost the nation 2.5 million jobs. But what it did say is vindication of what conservatives have preached since Barry Goldwater stood in the pulpit 50 years ago: The more liberal the welfare state, the greater the disincentive to work and the more ruinous the... Read More
"We've outsourced our manufacturing and much of our pollution, but some of it is blowing back across the Pacific to haunt us." So says University of California scientist Steve Davis. Smog from Chinese factories has already saturated cities like Beijing, where residents go about in surgical masks, and crossed the East China Sea to foul... Read More
When President Richard Nixon arrived in Beijing in 1972, Chairman Mao Zedong -- with his Marxist revolution, Great Leap Forward and Great Proletarian Cultural Revolution -- had achieved an equality unrivaled anywhere. That is, until Pol Pot came along. There seemed to be no private cars on Beijing's streets. In the stores, there was next... Read More
Chutzpah. I believe that's the word for it. Just days after learning the Americans have been tapping her phones and taping her conversations, Angela Merkel has been publicly upbraided by the U.S. Treasury for being a bad global citizen. What did she do to deserve this? Merkel just won a third term as chancellor with... Read More
One way or another, the battle of the budget and the debt ceiling will be over by All Hallows' Eve. Yet, as one looks deeper, at the irreconcilable conflict behind the present clash, only a roaring optimist would imagine we shall ever know again the tranquility and unity of the Eisenhower-Kennedy years. Consider the bile... Read More
Pat Buchanan
About Pat Buchanan

Patrick J. Buchanan has been a senior advisor to three Presidents, a two-time candidate for the Republican presidential nomination, and was the presidential nominee of the Reform Party in 2000.

In his White House years, Mr. Buchanan wrote foreign policy speeches, and attended four summits, including Mr. Nixon’s historic opening to China in 1972, and Ronald Reagan’s Reykjavik summit in 1986 with Mikhail Gorbachev.

Mr. Buchanan has written ten books, including six straight New York Times best sellers A Republic, Not an Empire; The Death of the West; Where the Right Went Wrong; State of Emergency; Day of Reckoning and Churchill, Hitler and The Unnecessary War.

Mr. Buchanan is currently a columnist, political analyst for MSNBC, chairman of The American Cause foundation and an editor of The American Conservative. He is married to the former Shelley Ann Scarney, who was a member of the White House Staff from 1969 to 1975.


PastClassics
The Shaping Event of Our Modern World
Analyzing the History of a Controversial Movement