Let People Prosper - Vance Ginn Economics

This Week's Economy Ep 10 | Is U.S. in Recession? Will TX Pass Largest Spending Increase in HISTORY?

5/26/2023

Today, I cover:
1) National: What's the latest on the debt ceiling deal, why I believe that the U.S. is in a recession based on the latest GDP report, and how inflation continues to indicate more aggressive monetary tightening by the Fed;
2) State-Level Jobs: I break down the latest state-level jobs report and share reasons for optimism and more with a focus on Texas and Louisiana.
3) Texas: What's going on with the current Texas legislative session, and why the proposed budget increase would be the largest spending increase in TX history while not passing the largest property tax relief in history. Plus, massive increases in corporate welfare, and large increases in social safety net spending, which would result in a disaster for Texans and the Texas economy.

You can watch this episode and others along with my Let People Prosper Show on YouTube or listen to it on Apple Podcast, Spotify, Google Podcast, or Anchor (please share, subscribe, like, and leave a 5-star rating!).

For show notes, thoughtful insights, media interviews, speeches, blog posts, research, and more, check out my website (https://www.vanceginn.com/) and please subscribe to my newsletter on Substack, share this post, and leave a comment.

This Week's Economy Ep 9 | New Debt Ceiling Bill, Importance of Reducing Taxes, Gov. Spending & More

5/19/2023

Don't miss the 9th episode of "This Week's Economy,” where I briefly share insights every Friday on key economic and policy news across the country.

Today I cover:
1) National: Breaking down the latest debt ceiling bill and the importance of restraining government spending for helping the economy to bounce back;
2) States: How states are setting an example of better spending habits with responsible budgeting and taxation in states like Florida and Iowa; and
3) Recession: Why I believe next year's data will show that we are in a recession that is set to deepen due to ongoing stagflation, and more.

You can watch this episode and others along with my Let People Prosper Show on YouTube or listen to it on Apple Podcast, Spotify, Google Podcast, or Anchor (please share, subscribe, like, and leave a 5-star rating!).

For show notes, thoughtful insights, media interviews, speeches, blog posts, research, and more, check out my website (https://www.vanceginn.com/) and please subscribe to my newsletter on Substack (vanceginn.substack.com/).

This Week's Economy Ep. 8 | TRUTH On Inflation, U.S. Dollar, Debt Ceiling, Texas & Louisiana Policy

5/12/2023

Thank you for checking out the 8th episode of "This Week's Economy,” where I briefly share insights every Friday on key economic and policy news across the country. Subscribe to receive new posts and support my work.

Today I cover:
1) National: Breaking down the latest report on CPI inflation and how it relates to real average weekly earnings, what’s going on with the debt ceiling debate, and why the Fed should continue to raise its interest rate target and cut its balance sheet;
2) States: ALEC's newest "Rich States, Poor States" report findings related to where Texas stands in comparison with Utah and Florida, what the legislatures are doing late in the sessions of Texas (here), Louisiana (LA jobs report and tax relief), and elsewhere; and
3) Other: New findings on the importance of work-life balance, the value of the U.S. dollar, and more.

You can watch this episode and others along with my Let People Prosper Show on YouTube or listen to it on Apple Podcast, Spotify, Google Podcast, or Anchor (please share, subscribe, like, and leave a 5-star rating!).

For show notes, thoughtful insights, media interviews, speeches, blog posts, research, and more, continue to check out my website (https://www.vanceginn.com/) and please subscribe to my Substack newsletter (https://vanceginn.substack.com).

This Week's Economy Ep. 7 | New Jobs Report NOT What It Seems, TRUTH on Fed’s Rate Hike & More

5/5/2023

Thank you for listening to the 7th episode of "This Week's Economy,” where I briefly share my insights every Friday morning on key economic and policy news at the U.S. and state levels.

Today, I cover:
1) National: Breaking down today's new U.S. Jobs Report and what the findings actually reflect about the current economy, plus my thoughts on real weekly average earnings and the Fed’s hike in its federal funds rate target;
2) States: Texas and Louisiana employment reports, fact and fiction, and Texas House passes corporate welfare bill in HB 5, and;
3) Other: Bills circulating on restricting social media, the value of the U.S. dollar under threat, and more.

Please share this episode on social media, like, and subscribe if you enjoyed it!

Find show notes, thoughtful economic insights, media interviews, speeches, blog posts, research, and more at my website (https://www.vanceginn.com/) or Substack newsletter (https://vanceginn.substack.com/).

This Week's Economy Ep. 6: NEW GDP Report, Debt Ceiling Bill, School Choice & State Budgets

4/28/2023

In today's episode of "This Week's Economy," I discuss the latest GDP report, the House Republicans passing a new debt ceiling bill, School Choice, state budgets, social media bans, and more.

Thank you for listening to the 6th episode of "This Week's Economy,” where I briefly share my insights every Friday morning on key economic and policy news at the U.S. and state levels.

Today, I cover:
1) National: Findings from the latest GDP report released yesterday (April 27th) and the debt ceiling bill passed by House Republicans;
2) States: Updates on Universal School Choice and budgets across states, especially Texas and Louisiana; and
3) Other: Bills circulating on restricting social media, and more.

You can watch this episode on YouTube or listen to it on Apple Podcast, Spotify, Google Podcast, or Anchor (please share, subscribe, like, and leave a 5-star rating).

For show notes, thoughtful economic insights, media interviews, speeches, blog posts, research, and more at my Substack directly in your inbox.

This Week's Economy Ep. 5: LATEST On Debt Ceiling, Rich/Poor States, Inflation Recession Act & More

4/21/2023

In "This Week's Economy" episode 5, I discuss the latest news on the federal debt ceiling, findings from ALEC's "Rich States, Poor States" report, and exciting personal updates from this past week.

Thank you for listening to the fifth episode of "This Week's Economy,” where I briefly share my insights every Friday morning on key economic and policy news at the U.S. and state levels.

Today, I cover:

States: The American Legislative Exchange Council (ALEC) just released the 16th edition of its insightful “Rich States, Poor States” index, which shows key findings on state economies based on indicators including tax burden, regulatory burdens, and state spending. I discuss some notable news from the report as well as suggestions for some of the states on how to improve their economies for increased freedom and prosperity. One of these is a local preemption bill for regulations in Texas in House Bill 2127.
Country: On April 19th, the House Republican’s new debt ceiling bill was released, containing spending caps and rules. I discuss why this bill is a step in the right direction, but to turn around this suffering economy more is required. Additionally, the bill will reinstate work requirements that were not mandated throughout the pandemic, and I explain why this is important on an individual and economic level.
Personal News: This past week, I had the privilege of giving invited testimony by Chairman Jason Smith (R-MO) at the U.S. House Ways and Means Committee hearing on Capitol Hill. I discussed the hefty cost of the Inflation Reduction Act (IRA), which is now estimated to be as much as 3x higher than was originally projected by the CBO, and the EV Tax Credits contained therein. You can read my written testimony here or view the hearing in the video below (my statement starts at time 27:30 and I have other comments throughout the 4-hour-long hearing). I also had the opportunity to publish an op-ed with The Daily Caller on School Choice, as the battle for more School Choice continues across the states and more freedom is required to help students, families, and teachers.

You can watch this episode on YouTube or listen to it on Apple Podcast, Spotify, Google Podcast, or Anchor (please share, subscribe, like, and leave a 5-star rating).

This Week's Economy Ep. 4: TRUTH On Inflation, Real Wages, Housing Market, TX Senate Budget, & CBDC

4/14/2023

In "This Week's Economy" Ep. 4, I talk about new CPI inflation report, slowing housing market, Texas Senate Budget & tax relief efforts, school choice, & threats of central bank digital currency.

Today, I cover:

CPI Inflation Report: The Bureau of Labor Statistics recently released its report for the consumer price index (CPI) measure of inflation. The headline is up 5% year-over-year, and core (excluding food and energy) is up 5.6% y/y—both are the highest in 32 years. I cut through the noise to let you know what it means to you and for the housing market, which is slowing across the country and in Texas.
State Actions: The Texas Senate recently released its budget for the upcoming 2024-25 budget, which appropriates too much and provides too little in property tax relief. Find out the details in my policy brief on what’s in the budget and how it could be improved. I also discuss how states nationwide are passing school choice, so it’s important that states like Texas and Louisiana don’t fall behind in education. But more importantly, they should empower parents to do what’s best for their kids’ education.
CBDC + U.S. Dollar Reserve Status: I was recently on the Wake Up America Show with Austin Peterson (watch my interview at 33:35 at YouTube link below) to discuss the failures of a central bank digital currency and the influence this could have on our lives. I also talk about how global factors are influencing the U.S. dollar’s global reserve status and what this means for us (good article by Peter Earle at AIER here).

You can watch this episode on YouTube or listen to it on Apple Podcast, Spotify, Google Podcast, or Anchor (please share, subscribe, like, and leave a 5-star rating).

This Week's Economy Ep. 3: TRUTH About New U.S. Jobs Report, Banking CRISIS Effects, & State Actions

4/7/2023

In "This Week's Economy" Ep. 3, I note the weaker labor market in the latest U.S. jobs report, the continued banking crisis issues, and state actions in Texas and Louisiana.

Today, I cover:

Jobs Report: The U.S. jobs report for March 2023 and the continued weakness in the labor market when considering the prime-age (25-54 year old) labor force participation rate and employment-population rate compared with the early 2000s along with the 24th consecutive month of declining year-over-year inflation-adjusted average weekly earnings.
Banking Crisis: The banking crisis continues to cause some reasons for concern as the federal government continues to bail out depositors and ultimately big banks thereby creating more risk and costlier busts while the Fed adds more fuel to the fire, as I noted in recent interviews on Fox Business and NTD News below; and
State Actions: The Texas Senate passed SB 8 which provides many families in Texas with $8,000 in an education savings account, but after multiple states have already provided universal ESAs there is room for much improvement in the Texas bills during the session so parents, teachers, and students in Texas aren’t left behind. Also, the Texas House passed a $303 billion budget for the next two years (2024-25) which is above the rate of population growth plus inflation when you exclude tax relief efforts and is a massive increase in appropriations of 21.5% above prior appropriations thereby leaving too little of $12 billion in new property tax relief of the $33 billion available surplus. And finally, Louisiana may have the third most dependency on the federal government with 44% of its budget from federal funds, the path forward is to support increased prosperity by getting the government out of the way (see Pelican Institute’s Comeback Agenda) so more people can get a well-paid job rather than just surviving on safety nets, which can be done in their session that starts on April 10, 2023.

You can watch this episode on YouTube or listen to it on Apple Podcast, Spotify, Google Podcast, or Anchor (please share, subscribe, like, and leave a 5-star rating).

This Week's Economy Ep. 2: FACTS on Economies of US+TX+LA; Texas House Budget; & Costly Green Energy Agenda

3/31/2023

In "This Week's Economy" Ep. 2, I provide brief insights on the economies of U.S., Texas, & Louisiana; talk about the TX House Budget; and note how Biden's green energy agenda results in poverty.

Thank you for listening to the second episode of "This Week's Economy," a new series of the "Let People Prosper" podcast, where I quickly recap and share my insights every Friday morning on key economic news from the preceding week.

Today, I cover:

What the latest economic indicators tell us about the economies of the U.S., Texas, and Louisiana, and where things are heading.
How the Texas House’s budget for the upcoming 2024-25 period increases substantially leaving less money available for needed property tax relief, as I recently wrote in this report; and
How the Biden administration’s green energy agenda increases poverty and why it must stop (Read my op-ed at Real Clear Energy).

You can watch this episode on YouTube or listen to it on Apple Podcast, Spotify, Google Podcast, or Anchor (please share, subscribe, like, and leave a 5-star rating).

This Week's Economy Ep. 1: TRUTH About the Fed Raising Rates, the SVB Collapse & Inflation

3/24/2023

In "This Week's Economy" Ep. 1, I debut my brief weekly podcast on the hot button economic issues related the national, state, and local economic issues and public policy that will let people prosper.

Thank you for listening to the first episode of "This Week's Economy," a new series of the "Let People Prosper" podcast, where I quickly recap and share my expertise on all the economic news from the preceding week every Friday morning.

You can watch this episode on YouTube or listen to it on Apple Podcast, Spotify, Google Podcast, or Anchor (please share, subscribe, like, and leave a 5-star rating).
Today, I cover:

How much the Fed raised the federal funds rate, why, and what that means for the economy, which I highlighted in my interview on Fox Business with Neil Cavuto in the video below;
Current inflation numbers and likely job losses and economic bust; and
How the Fed raising rates and Congress' excessive spending is impacting the banking sector and the SVB bank collapse, which I outlined in my recent commentary at The Daily Caller.